Peru’s banking system continued to expand in 2013 and the forecast for 2014 is for even more robust growth as gross domestic product (GDP) picks up and external pressures ease.
Results from 2013 show the country's banking system performed at rates slightly below previous years when expansion was three times GDP, but still among the best in the region. Three factors contributed to the decline, including currency devaluation, an increase in interest rates and a jump in past due loans in the small and medium-sized enterprise (SME) sector.
