Banco Nacional Increases Credit Portfolio

January 18, 2008
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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