Banking intermediation lashed by matured bonds payable
Some 50.8% of the deposits reported in November were mainstreamed to credits
Intermediation has reported somewhat low figures throughout the year, below 55%, according to the Superintendence of Banks and Other Financial Institutions (Sudeban). Notwithstanding, the figure was reported at 50.88% last month.
In other words, for every 100 bolivars received by banking institutions, 50.88 were lent to clients. The figure is obtained by dividing the total amount of deposits by the total amount of credits.
Thus, as deposits grow faster than the delivery of credits, intermediation remained lower. Last month, most bonds set by the end of the year matured, leading to a 10.41% increase in deposits with respect to October.
The acceleration in deposits was way above the 4.96% growth reported in credits in November. Meanwhile, credit intermediation in November 2011 was reported at 53.3%.
Moreover, credit intermediation in public banking was down 38%, the lowest level over the last 12 months.
Translated by Jhean Cabrera
Pablo Jiménez Guaricuco was summarily dismissed from his Clerk III job at the Autonomous Service of Public Registries and Notaries' Offices (Saren). He read a notice published in a newspaper on November 5 informing the public that he was no longer employed to the Saren.