Credit: why banks are lending less for consumption today – Financial Sector – Economy
The new consumer loans granted by financial institutions operating in the country between November and December of last year required an additional effort of 1.1 trillion pesos, since as part of the measures adopted to moderate the rapid growth that said wallet, the Financial Supervision, Through Circular 026, it forced these establishments to make greater provisions on these new consumer loans that they granted as of November 202.(Also read: Usury rate reaches the highest peak of this century, 45.27%) In addition to those 1.1 trillion pesos constituted by order of the Financial Superintendency, the credit institutions had to provision another…
