Overview
- Total credit excluding government programs rose 5.2% year over year to September 2025, led by 7% growth in consumer loans and 6.3% in mortgages.
- Loan quality improved as high‑risk portfolios and delinquency ratios fell versus September 2024, with new disbursements showing lower default trends.
- System solvency remained robust with a 17.2% average capital ratio at September, S/4,478 million in provisions and 113.6% coverage of high‑risk loans.
- Stress tests show the capital ratio would stay around 15% under a severe two‑year shock and the system would hold up under strong liquidity stress.
- AFP outflows continue, with 3.13 million November requests for S/17 billion; applications run through January 18, 2026, and roughly 4 million affiliates now have zero balances.