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CMF reports on the performance of banks and cooperatives as of February 2020

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March 30, 2020.- Loans in the banking system grew 8.44 percent in 12 months. This is lower than both the 8.55 increase recorded in January 2020 and the 10.54 percent reached over the same 12-month period in 2019.

Both the commercial and consumer portfolios expanded less compared to the previous month. Commercial, consumer, and housing loans increased by 9.42, 2.43, and 9.41 percent, respectively.

Regarding credit risk, the loan-loss provisions index stood at 2.56 percent, the arrears ratio of 90 days or more dropped to 2.04 percent, and the impaired portfolio rose to 5.06 percent.

Monthly profits of the banking system for February totaled 231,380 million Chilean pesos (USD 283 million). It’s a 5.22 percent decrease compared to January, but an annual increase of 18.15 percent. A decline in the result of financial operations (ROF) and net commissions, coupled with a rise in net provision expenses, explain this lower monthly result. However, a rise in net interest income and a fall in support costs and taxes mitigated the drop.

Supervised Cooperatives

Loans by savings and credit cooperatives supervised by the CMF rose 4.08 percent in 12 months. It’s a slightly lower figure than the 4.38 percent recorded in January. Lesser growth of the consumer portfolio – only 5.11 percent – explains this variation.

All three credit risk indicators rose compared to the previous month. The provision index reached 4.21 percent, the arrears of 90 days or more got 3.42 percent, and the impaired portfolio increased to 7.04 percent.

Due to a rise in net interest income and decreases in net provisioning and support costs, monthly profits grew 36.46 percent compared to January. Overall profits have increased 3.40 percent over the last 12 months.

Performance Report

Alongside this month’s financial information, the Performance Report includes an analysis of operations with derivative instruments in the banking system.

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