Colombia’s chief financial regulator Gerardo Hernandez said he is worried by the pace at which delinquent loans are rising in the South American country, according to an interview published in La Republica newspaper.
Colombia moved to slow the pace of consumer credit growth earlier this month by increasing provision requirements for lenders that have seen a rise in bad loans. Consumer loans grew 22 percent in March, according to the central bank.
To contact the reporter on this story: Andrea Jaramillo in Bogota at firstname.lastname@example.org.
To contact the editor responsible for this story: Joshua Goodman at email@example.com.