Economy February 22, 2018 | 12:37 pm

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Of the financial system’s US$20.8B in credits, 27% was consumption in 2017

Reservas bank. M. Wesoly.

Santo Domingo.- Of the RD$999.6 billion of the financial system’s credit portfolio for 2017, RD$260.6 billion went just to consumption, or 26.06% of the total which the various financial entities lent last year, according to Banks Superintendence data.

The funds, when excluding loans for consumption of the construction and manufacturing sectors, account for the highest sum allocated to the country’s productive sectors in 2017.

The figures show that at yearend 2017, the credit for the retail sector was RD$142.3 billion, or RD$17.8 billion more than in 2016; RD$73.9 billion for construction, or RD$2.3 billion less, and manufacturing was RD$65.6 billion, or RD$4.4 billion more than in the previous period.

Moreover, the Dominican financial system’s credit portfolio indicates that at yearend 2017, consumption posted the highest sum, as in previous years, when it stood at RD$260.7 billion, or RD$27.7 billion more than at yearend 2016.

The performance of the loans to the productive sector last year also shows an increase in home sales and remodeling, from RD$153.0 billion in 2016 to RD$170.2 billion in 2017.

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