The balance of the loan book in South America at the end of March was €41,440m, a year-on-year increase of 24.2%, and a quarter-on-quarter increase of 2.8%. The market share increased over the previous 12 months by 7 basis points (January data, the latest available). By segments, this increase is basically focused on individuals (up 36 basis points).
On-balance-sheet customer funds grew at the rate of lending activity over the past year, 25.9%, and 4.8% over the quarter. Lower-cost transactional current and saving accounts were particularly strong, with a year-on-year rise of 25.3%, and 3.2% over the first quarter of 2012. Including assets under management in mutual funds, customer funds managed by the banks in the area closed March 2012 at €50,435m, 23.2% up on the same date in 2011.