According to the Salvadoran Banking Association (Abansa), the construction and commerce sectors have been the primary drivers of credit demand in El Salvador during the first nine months of 2024. The total banking loan portfolio reached $17.2 billion by September, reflecting a 6.2% increase compared to the same period in 2023.

The construction sector saw a notable surge, with its credit portfolio growing by 22.5% to $1.01 billion, up from $826 million in 2023. Meanwhile, the trade sector also experienced strong growth, with a 14.4% rise in its loan portfolio, reaching $2.84 billion, an increase of $357 million.

Together, these sectors account for a significant portion of the total banking portfolio—construction makes up 5.7%, while commerce represents 16.1%.

Consumer loans remain the largest category in the banking portfolio, totaling $5.82 billion and growing by 7.8%. The housing sector followed with a 4.8% increase, reaching $2.84 billion, while the industrial sector saw a 5.7% growth, totaling $1.64 billion. Other sectors, including services, electricity, and gas, also reported increases.

In terms of savings, deposits saw a robust increase of 6.1%, reaching $18.12 billion by September 2024. The most significant growth was in structured deposits, which rose by 17.3% to $783.7 million.

This growth in both credit and savings underscores a resilient economy, with construction and commerce sectors playing pivotal roles in supporting El Salvador’s financial landscape in 2024.