Bank lending in Peru has slowed this year as regulators have forced the banks to make greater provisions in an attempt to rein in fast credit expansion.
At the end of 2011, lending was expanding at an annual 19%, but this has now dropped to 13%, according to Moody’s. The central bank has raised reserve requirements many times during the past year, while the financial regulator has increased provisions and capital requirements to subdue credit growth, mainly for loans denominated in dollars.
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