Colombian mortgage and commercial lending are unexpectedly resilient after the central bank’s steepest-ever series of interest rate rises, according to the head of the nation’s biggest bank.
Bancolombia SA expects its lending to grow by 6% to 8% in nominal terms, from about 23% last year, Chief Executive Officer Juan Carlos Mora said. Some home buyers are taking into account the possibility of refinancing at lower rates in the future, he added.
Read More : CEO of Major Colombian Bank Highlights Better-Than-Expected Loan Growth