Peru’s Interbank Sees ’09 Loan Growth Of Between 20% To 25%

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Dow Jones Newswires
Leslie Josephs

Interbank (INTERBC1.VL), Peru’s fourth-largest bank, expects loan growth this year of between 20% and 25%, the parent company’s chief financial officer said Wednesday.

"We expect overall loan growth in the market to remain low throughout the year," Jose Antonio Rosas, chief financial officer of Intergroup Financial Services Corp (IFS.VL), said during a conference call with analysts.

But he said Interbank should "continue gaining market share, seizing the opportunities we’ve seen in this slow competitive environment.

"As a result, our loan growth should be between 20% and 25%," said Rosas.

Interbank’s quarter-on-quarter net loan growth in the first three months of the year totaled 4.3% and year-on-year 57.6%.

Rosas added that Interbank expected Peru’s economy to expand between 3% and 4% this year.

The Andean nation’s GDP expanded by 9.8% in 2008.

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