CMF reports on the performance of supervised banks and cooperatives as of August 2026

At the end of August 2026, loans in the banking system posted a real decline of 0.63 percent over the past 12 months. This trend is linked to the decline in the consumer portfolio, along with the slowdown observed in housing. On the other hand, commercial lending saw a smaller decline in activity during the same period. (Graph 1).

Graph 1.

Total loans and loans by portfolio, banking system

(Real annual variation expressed in percentage)

Gray: Total loans. Aqua: Commercial loans. Purple: Consumer loans. Orange: Housing loans.

Compared to August, credit risk indices show a mostly downward trend at the aggregate level. In fact, the Loan-Loss Provisions Index (LLPI) fell to 2.51 percent (2.53 percent in July 2026) and the Impaired Portfolio Ratio (IPR) to 5.88 percent (5.89 percent in July 2026). Meanwhile, the Arrears Ratio of 90 Days or More (AR90) remained at 2.34 percent.

By loan portfolio, the trends are mixed - all consumer loan indices rise while commercial and residential loan indices mostly decline, with a few exceptions: the commercial LLPI and the residential IPR, which both increase during the same period.

Compared to twelve months ago, the trend is also mixed: commercial loans show only declines; consumer loans show mostly declines; and housing loans show mostly increases (see Page 4 of the Performance Report).

Provisions coverage declined both during the month and compared to 12 months ago.

The growth in cumulative profits is primarily due to increases in net interest income and adjustments, and to a lesser extent, to other operating income and higher net fee income. Similarly, higher expenses were recorded for credit losses, operating expenses, and taxes during the same period. However, average profitability indicators show a decline compared to the previous month: Return on Average Equity (ROAE) reached 15.09 percent and the Return on Average Assets (ROAA) 1.34 percent.

As for cooperatives, lending growth is below the levels recorded in both July and 12 months ago. The change from the previous month is due to slower growth in housing loans (16.08 percent in August 2026 vs. 16.25 percent in July 2026). Meanwhile, consumer loans - which account for 66.89% of total operations - recorded a slight increase compared to the previous month (1.49 percent in Aug. '26 vs. 1.48 percent in Jul. '26). (Graph 2).

Graph 2: Total loans and loans by portfolio, savings and credit cooperatives

(Real annual variation expressed in percentage)

Gray: Total loans. Aqua: Commercial loans. Purple: Consumer loans. Orange: Housing loans.

Compared to July and on an aggregate basis, credit risk indices show a mostly downward trend: the Provisions Index (PI) fell to 4.13 percent (4.14 percent in July 2026) and the IPR to 8.11 percent (8.23 percent in July 2026), while the AR90 remained at 2.46 percent.

Loan portfolios show a generally downward trend in indices, with some exceptions in the consumer portfolio, where the PI and AR90 rise (see Page 7 of the Performance Report).

The cumulative result reported in August declined primarily due to higher net provision expenses, lower net fees and commissions, and higher support expenses. On the other hand, this month also saw an increase in net interest income. In line with cumulative performance through August 2026, average profitability metrics declined compared with twelve months ago. Thus, the ROAA stands at 2.4 percent and the ROAE at 11.73 percent.