The Bank of Jamaica (BOJ), in its latest Quarterly Credit Condition Report noted that growth in credit availability, as measured by the Credit Supply Index (CSI) decreased when compared to the previous quarter.
The CSI fell to 102.2 from 104.2 and reflected a slowdown in the growth of credit supply to businesses relative to the previous three months.
The report notes that institutions' willingness to provide credit during the quarter continued to be primarily driven by changes in economic sector specific risks, their economic outlook, market share objectives and competition.
Meanwhile some lenders noted increased appetite for risk as a factor affecting the changes in lending.
The overall supply of local currency credit available remained relatively unchanged.
In relation to foreign currency loans, the growth rate in credit supply increased to the Agriculture & Fishing as well as Electricity, Gas & Water sectors.