CBI Remains Financially Solid as of November 2023

Monday, 08 January 2024

The assets of the International Banking Center (CBI) amounted to USD 146.15 billion, reflecting a USD 5.93 billion increase compared to November 2022. This translates into a year-on-year growth of 4.2%. The growth in banking assets is mainly attributed to the expansion of the net loan portfolio that totaled USD 87.49 billion, a 4.5% year-on-year growth, or USD 3.79 billion more.

This growth is primarily based on the credit mass granted in previous periods, as the performance of new loans has significantly slowed down, decreasing from a growth rate of around 38% in 2022 to an accumulated growth of 5%.

The foregoing indicates that, by the end of the year, levels of new lending are not expected to reach the levels seen in 2019, when a cumulative disbursement amount of USD 24.88 billion was recorded, with USD 20.55 billion for the period from January to November.

The total of CBI deposits amounted to USD 104.21 billion, indicating a 5.2% growth when compared to 2022 when it reached USD 99.02 billion, i.e., USD 5.19 billion more. This increase is attributed to foreign deposits (+9.0%), according to the November 2023 results published in the Banking Activity Report by the Superintendency of Banks.

On the other hand, the National Banking System (SBN) recorded growth in the domestic corporate banking loan portfolio by 3.4%, reaching USD 60.95 billion (USD 1.99 billion more than that of November 2022).

The data suggest a generalized growth in several economic sectors, especially the corporate and household components. Household lending by corporate banking stood out as the segment with the most dynamism in absolute terms, driving the growth of the total portfolio.

In fact, the personal consumption loan portfolio experienced an increase of 4.2%, amounting to USD 13.62 billion, while residential mortgage lending grew by 3.8%, totaling USD 20.49 billion, both measured on a year-on-year basis.

The main financial soundness indicators internationally used as standard measures, such as liquidity and solvency ratios, remain high, almost at double the minimum required, which means that the CBI maintains a robust and resilient position.

For further information on the variables that explain this report, please visit our website at Statistics.

cbi noviembre