CMF Reports Performance of Supervised Banks Amid COVID-19 Crisis
CMF published a report, along with the associated data, on the performance of supervised banks and cooperatives amid the COVID-19 crisis. CMF reported that, in May, loans from the banking system grew 8.63% in 12 months, driven by the commercial portfolio in the context of the granting of loans with a Fogape COVID-19 guarantee. The performance report points out that variations in total loans and commercial loans are influenced by the granting of loans with a Fogape COVID-19 guarantee during May. Without considering these operations, loans from the banking system would have grown 6.78%, measured in 12 months.
The housing portfolio registered an increase of 8.12%, which is lower than the previous month number of 8.79% while consumption registered a fall for the third consecutive month. In terms of credit risk, the indicators increased again in the month. The loan-loss provisioning index rose from 2.59% to 2.61%, the delinquency rate of 90 days or more went from 2.03% to 2.07% and the indicator of impaired portfolio rose from 5 0.03% to 5.22%. Consumption was the portfolio that registered the highest increases in its risk indicators. The profit for May, of $103,591 million (MMUSD 127), was reduced by 49.01% in monthly terms (that is, compared to April 2020) and 19.47% compared to 12 months ago. The lower result for the month was mainly due to a decrease in the interest margin and in the result of financial operations. Consequently, the return on average equity fell to 11.15% and the return on average assets reached 0.84%.
Related Links (in Spanish)
- Press Release
- Performance Report of Banking System and Cooperatives
- Monthly Report of Financial Information
- Report on Derivative and Non-Derivative Instruments
- Indicator of Delinquency of Banking System
- Report on the Past Due Loans
- Balance Sheet and Bank Situation
- Overview of Fogape COVID-19 Loans
Keywords: Middle East and Africa, UAE, Dubai, Banking, Cyber Risk, DIFC, Operational Risk, Cyber Testing, Outsourcing Arrangements, Third-Party Arrangements, Dubai FSA
Featured Experts
Victor Calanog, Ph.D.
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
Previous Article
Bundesbank Releases SFRDP Taxonomy and Deactivated Validation RulesRelated Articles
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.
FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates
The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.
FSB Reports Assess NBFI Sector and Progress on LIBOR Transition
The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.
