August 30, 2024.- Loans in the banking system increased by 0.21 percent over 12 months. This was due to a 2.48-percent expansion in the housing portfolio, as the commercial portfolio declined by 1.34 percent and the consumer portfolio fell 1.24 percent.
Total loans and loans by portfolio in the banking system
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
Regarding credit risk, the loan-loss provisions index (LLPI) fell while both the impaired portfolio ratio (IPR) and arrears ratio of 90 days or more (AR90) rose. Compared to last month, there were mostly declines by portfolio except for the LLPI showing no variation in commercial loans. Meanwhile, the IPR and AR90 increased in the housing portfolio.
Accordingly, the LLPI fell from 2.57 to 2.56 percent; the AR90 grew from 2.3 to 2.32 percent; and the IPR increased from 5.98 to 6 percent.
All credit risk indices grew compared to those posted 12 months ago, the exceptions being the consumer portfolio's AR90 and the housing's portfolio LLPI.
Monthly profits for July reached CLP 356,762 million (USD 373 million) for a decline of 13.01 percent during the month but rising 2.43 percent versus the previous year. Accordingly, the return on average equity (RAE) was 14.93 percent, lower than last month's; and the return on average assets (RAA) was 1.17 percent, higher than June 2024. Both coefficients declined versus the same month last year.
Supervised Cooperatives
Loans by savings and credit cooperative supervised by the CMF expanded by 10.46 percent in 12 months. The consumer portfolio, which represents 70.63 percent of these loans, is the main reason behind this result with an 8.26-percent increase. The commercial portfolio rose 4.7 percent, and the housing portfolio 18.42 percent in that span.
Total loans and loans by portfolio by savings and credit cooperatives
(Real annual variation expressed in percentage)
Purple: Total loans. Red: Commercial loans. Blue: Consumer loans. Green: Housing loans.
As for credit risk, the provisions index (PI) fell during the month to 3.79 percent, and so did the IPR, which declined to 7.51 percent. The AR90 increased, however, to 2.6 percent. These trajectories were due to increases across the board in the consumer portfolio.
Both the PI and IPR grew versus 12 months ago: the former because of indices posted in the commercial and consumer portfolios, and the latter because of the consumer portfolio. The AR90 fell due to similar trends in the housing portfolio.
Monthly profits for July reached CLP 6,297 million (USD 7 million) for a 22.33-percent decline versus last month but a 28.76-percent increase versus the same month last year. The RAE and RAA were 12.82 and 2.82 percent, respectively, both higher than last month and the same month last year.
Links to Relevant Documents
- Report on Performance of the Banking System and Cooperatives - July 2024
- Monthly Report on Financial Information of the Banking System - July 2024
- Report on Derivative and Non-Derivative Instruments of the Banking System - July 2024
- Arrears Ratio of 90 Days or More in the Banking System - July 2024
- Report on the Impaired Portfolio of the Banking System - July 2024
- Assets and Liabilities of the Chilean Banking System Abroad - July 2024
- Balance Sheets and Statements of Banks (in plain text format) - July 2024
- Financial Report of Savings and Credit Cooperatives - July 2024
