Personal loan
in Central America
Monday, May 14, 2012
A passive base rate in excess of 12% would be problematic, affecting the behavior of borrowers and is likely to cause an increase in defaults.
The Passive Base Rate (PBR) reached 10% on May 9, a level not seen since October 2009. The banks set their interest rate according to the PBR and charge an additional margin. It is estimated that there are 400,000 public bank transactions related to this indicator, reported Elfinancierocr.com.
Thursday, July 28, 2011
The National Cooperative of Educators (Coopenae) will receive $30 million from the International Finance Corporation (IFC) for loans.
The funds will go to mortgage loans for low-income families and financing for small and medium enterprises.
Friday, April 29, 2011
Costa Rica lacks housing for the middle-income sector.
Funding is not to blame. After passing the most severe part of the financial crisis, banks are now offering home loans at favorable conditions and accessible to incomes of all spectrums. The problem is that there is insufficient supply in the housing sector in the ranges of $70 thousand to $80 thousand.
Tuesday, January 4, 2011
Wires received in the most remote areas of the country are a major factor for the growth of microfinance institutions (MFIs).
Where traditional banking does not exist due to operating costs preventing requests for credits of $ 200 or less, there is fertile ground for small banks and credit unions, which now amount to about 250.
Tuesday, November 23, 2010
The cooperative legal structure is becoming increasingly important in the country, especially in the multi-service and credit unions format.
According to statistics from the Panamanian Autonomous Cooperative Institute (IPACOOP), the country has 521 cooperatives, which manage a total of $ 1.4 billion.
Wednesday, September 8, 2010
A study by a Salvadoran consumer rights organization found that most store cards charge annual interest rates of between 36% and 91%.
El Salvador's Credit Card Law, approved last November by the Legislative Assembly, regulates transactions made using credit cards. However, cards offered by shops and stores that use a contract as confirmation of the agreement fall outside this law.
Tuesday, June 1, 2010
In the first four months of 2010, the bank loaned $320 million, 77% more than the same period of 2009.
Between January and April 2009, the financial institution gave loans for $180 million.
“As for the credit portfolio of the entire banking system, it summed $1.83 billion in April 2010, growing 12.7% when compared to the same month of 2009, when it totaled $1.62 billion” reported Laestrella.com.pa.
Thursday, May 20, 2010
Banks loaned $248.1 million in the first quarter of 2010, 30.7% more than in the same period 2009, when they loaned $190 million.
As defined by the Guatemalan Banking Superintendence, durable goods include: furniture and household utensils, clothing and vehicles for personal use, material, study furniture and equipment, buildings and real estate mortgages.
Thursday, April 8, 2010
Consumer budgets are still healing from the economic crisis, delaying a recovery in credit card lending.
Almost 60.000 credit cards were cancelled during 2008 and 2009, half of them for delinquency by their owners. Many others maxed out their credit and cannot use their cards anymore.
The new credit card law seems to make things even worse, as it requires consumers to have a certified income of at least $500 in order to apply for a credit card. The previous minimum was $300.
Thursday, February 25, 2010
50% of all loans granted by financing companies are in a state of default.
This was stated by Alicia Sáenz de Guinard, president of the National Association of Financing Companies. She added that 20% of the debtors are individuals who paid via direct deduction from their salaries.
Friday, February 19, 2010
“Banco de Costa Rica” earmarked $100 million for a home loans program called “Vivienda para Elegir” (“Homes to Choose”).
Loans can be in dollars or Colones, and is intended for Costa Rican nationals or residents.
Tuesday, December 22, 2009
Between January and September 2009, credit card companies issued 6.442 cards, 41% less than the same period of 2008.
This was mostly caused by banks imposing considerable restrictions to credit.
A report by APC, the Panamanian Credit Association, added: "The number of active credit cards dropped 3.2%.
Friday, December 11, 2009
A MEIC study found that credit card issuers charge interest rates between 20% and 54%.
There are 27 issuers in the country, whom collectively offer 407 different products, according to the study by the Economy, Industry and Commerce Ministry (MEIC).
Monday, October 5, 2009
In the first eight months of this year, banks and financial entities loaned $405.9 million less than the same period of 2008.
Loans granted up to August summed $8.256 million, 4.7% less than the same period of 2008, when banks and financial entities loaned $8.662 million.
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