Latam Daily: Peruvian Loan Growth Extends Positive Trend in July

中文标题

拉丁美洲每日报告：秘鲁贷款增长在7月延续积极趋势

Scotiabank Economics08/31/2026updated 10/17/2026

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Citable research brief

Core conclusion · Tlines extraction

Scotiabank Economics reports that Peruvian direct loan growth accelerated to 8.7% y/y in July, driven by strong household and business lending, and forecasts growth of 8.0% y/y by end-2026.

Institution: Scotiabank Economics
Published: 08/31/2026
Research topic: credit growth · Peruvian loans · Peruvian medium business loans
Time horizon: current

Key arguments

Direct loans grew 8.7% y/y in July, up from 8.3% in June, extending the uptrend since October 2021.
Business loans expanded 7.5% y/y, with medium business loans accelerating to 13.1% y/y, while micro business loans remained negative at -10.0% y/y.
Household loans accelerated to nearly 10.5% y/y, with consumer loans growing over 13.0% y/y.
Scotiabank forecasts direct loan growth of about 8.0% y/y by end-2026, with business loans near 7.0% and household loans near 9.0%.

Key numbers

Direct loan growth (Jul): 8.7% y/y
Direct loan growth (Jun): 8.3% y/y
Business loan growth: 7.5% y/y
Household loan growth: 10.5% y/y
Consumer loan growth: >13.0% y/y
Medium business loan growth: 13.1% y/y
Micro business loan growth: -10.0% y/y
Direct loan growth forecast 2026: 8.0% y/y

Main risks

Downside risks to loan growth include a slowdown in economic activity or a deterioration in private consumption.
Corporate loans have shown easing growth, from 5.9% y/y in June to 5.1% y/y in July, which could persist.
Micro business loans remain in negative territory, indicating ongoing challenges in that segment.

Corresponding source evidence

Direct loans grew by around 8.7% y/y in July, above the 8.3% y/y recorded in June, extending the uptrend observed since October 2021. · current
medium business loans posted a stronger performance than in the previous month, accelerating from 11.7% y/y to 13.1% y/y. · current
the micro business loans portfolio remained in negative territory, although it continued to recover, improving from -10.6% y/y in June to -10.0% y/y in July. · current

Context: the conclusion is Tlines' automated extraction, not the institution's wording. Quoted evidence is publisher wording. Scope and date must travel with the conclusion.

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