Lending Market in El Salvador - 2024.06 Rankings
As of June 2024, the total portfolio of outstanding bank loans in the country amounted to USD 16840 million. This figure encapsulates different types of financing, with the largest segments being consumer loans, housing acquisition, commerce, and manufacturing industry loans.
Specifically, consumer loans accounted for USD 5589 million, housing acquisition for USD 2791 million, commerce for USD 2572 million, and the manufacturing industry for USD 1653 million. Additionally, other types of loans combined totaled USD 4234 million.
The interannual variation in the volume of outstanding loans reveals significant trends. Consumer loans saw a 6% increase, housing acquisition loans grew by 4%, and commerce loans rose by 8%. The manufacturing industry experienced a 3% increase, while the services sector saw the highest growth at 13%. Construction loans increased by 9%, and loans for electricity, gas, water, and related services surged by 16%. However, some sectors faced declines, with other activities decreasing by 6%, agricultural loans dropping by 3%, and loans for transport, storage, and communication falling by 5%. Notably, loans to financial institutions plummeted by 23%, whereas mining and quarrying experienced a remarkable 33% increase.
Overall, the total loan volume grew by 5.7%.
In terms of new loans placed in the market, a total of USD 688.27 million was distributed across different sectors in June. Consumer loans led the way with USD 260 million, followed by commerce with USD 151 million, and the manufacturing industry with USD 90 million. Other sectors received USD 186 million in new loans.??
Several banks have been at the forefront of this market activity. Banco Agrícola saw the most significant growth in market share by granted new loans, increasing by 4.65 market share points. CITI followed with a +1.33 increase, Banco Industrial with +1.02, Banco de América Central with +1, and Banco Davivienda with +0.90.?
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When analyzing the market share of loans granted, Banco Agrícola holds the largest share at 27.5%, followed by Banco de América Central at 17.4%, Banco Cuscatlán de El Salvador at 17.1%, Banco Davivienda Salvadore?o at 11.7%, and Banco Promerica at 7.7%. Together, these five banks manage 81.5% of the total loan placements.
Regarding the total loan portfolio market share, Banco Agrícola again leads with 25.2%, followed by Banco Cuscatlán de El Salvador with 18%, Banco de América Central with 15.4%, Banco Davivienda Salvadore?o with 14.6%, and Banco Hipotecario de El Salvador with 6.3%. These top five banks collectively handle 79.4% of the total loan portfolio in the country.