Banco Nacional Increases Credit Portfolio
The country’s biggest bank by market share increased its credit portfolio by more than half in 2007.
Banco Nacional, one of the country’s three state-owned banks, grew its credit portfolio from $1.8 billion in 2006 to $2.85 billion by the end of 2007, according to numbers released by the bank this week.
The biggest increase came from home loans, which went up by 49% and account for almost a third of the bank’s loans.
Likewise, service-related loans, representing 14% of the bank’s credit, almost doubled.
In a statement, the bank said it planned to increase its home loans in 2008 by $262.6 million, which at an average loan of about $24,000 would mean approximately 11,000 additional loans.
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