Credit to businesses and households in 2025: growth, composition and currency (FSR Dec. 2025)
- Local and multilateral financing
- Where the credit comes from
- Audited
According to Banguat's Financial Stability Report (data to December 2025), total credit to businesses and households grew 7.9% year on year, down from 11.4% in December 2024, split between businesses (52.8%) and households (47.2%). Credit to businesses grew 8.9% (9.1% a year earlier); within it the corporate segment, 88.6% of business lending, grew 7.2% (8.7% in 2024), with foreign-currency credit up 8.2% and local-currency credit slowing to 6.3%; foreign currency is now 49.2% of credit to that segment. Productive credit (individuals and small units) recovered from a low of −17.2% in February 2025 to +12.4% in December. Banguat reads the whole as contained risk: portfolio quality held or improved against 2024 and provisions are ample; the Economic Activity Confidence Index closed 2025 at 66.4 points and the IMAE grew 4.7% year on year in December.
The research is written in English; quoted figures, source names and the titles of legal instruments stay in the language their source published them in.
Figures
- Total credit to businesses and households
- +7.9% y/y (11.4% in Dec-2024)
- Composition
- businesses 52.8%, households 47.2%
- Credit to businesses
- +8.9% (9.1% in Dec-2024); corporate segment +7.2%, 49.2% in foreign currency
- Productive credit
- from −17.2% (Feb-2025) to +12.4% (Dec-2025)
Caveat
Sources
Related records
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