Emerging market banks’ loan growth hit 12% in H1 2025

Emerging market banks’ loan growth hit 12% in H1 2025

Average loan growth and net interest margins (NIM) of the largest banks in emerging markets (EMs) rose or was stable in H1 2025, according to data from Fitch Ratings.

The study, which sampled 142 banks globally, noted an average loan growth of 12% during the first six months of 2025.

NIMs declined slightly in most regions, although it was overall generally stable at 4.2%, lifted by Nigerian banks, Fitch said in a February 2026 monitor.

EM banks remained mostly deposit-funded. Average loan-to-deposit ratios were at 103% as of H1 2025. Latin American EM banks have the highest ratio at 127%, whilst African EM banks have the lowest average ratio at 66%.