The positive effect of the UF in the range of interest and monthly acceleration of 0.77% of loans and receivables (6.05% in 12 months), were the main factors behind the expansion of 50.73% year in the results attributable to drivers who scored banks to August. With that, to date accumulated profits US.335 million, while in monthly terms they reached about US1 billion.
According to a report Ban Chile Investments, the results are explained by a breakthrough “in the net interest margin (MIN), driven by the rise of 0.43% per month at UF, and increased placements of the system.
Moreover, according to Carlos Herrera, Scamander GBM, “all show an increase in operating expenses, which is related to an increase in the sales force due to the increased activity within the system.”
Indeed, credit and accounts receivable grew 6.05% in twelve months, driven by consumer loans, with a variation of 6.95% and a significant acceleration of 1.18% over July, while mortgage did at 9.69%. Commercial loans, which represent over 60% of the system, advanced 4.41% YoY and 0.64% per month.
The indicators are now also reflect decreases in risk in the system, a product of economic recovery and declining unemployment. Thus, past due loans over total loans fell to its lowest level since February, reaching 1.42%, while provisions on loans went from 2.6% in July to 2.56% of the eighth month, recording also the lowest since the second month of the year.
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