Peru obtained a level of financial inclusion of 39.8 on a 100-point scale, which represented the highest score of this, according to Credicorp’s 2022 Financial Inclusion Index (IIF). The IIF evaluates the access, use and perceived quality of the financial system in eight countries of the region: Argentina, Bolivia, Chile, Colombia, Ecuador, Mexico, Panama and Peru. For this study, Ipsos interviewed more than 14,000 people.
Enrique Pasquel, manager of Corporate Affairs at Credicorp, points out that, although Peru registered an increase of 2 points compared to the 2021 edition of the report (37.9), it is located in the penultimate position (seven out of eight) among the countries evaluated, surpassing only Bolivia. “The promotion of financial inclusion is a priority issue in the region, for which authorities, academia and the financial industry must continue to join efforts. At this point, it is valuable to analyze and understand financial inclusion, according to the different demographic variables”, comments Pasquel.
Peruvians between the ages of 18 and 25 have a financial inclusion level of 46.6 points and those in the 26 to 42 age group have an index of 43.1. The level drops to 29.3 units in the segment of people over 60 years of age.
Likewise, in Peru, men have a higher level in this field than women. Men reach a score of 42.3, while women 37.5 points, which reflects the gender gaps that persist in the financial inclusion.
Financial inclusion by educational level and geographical area
Regarding the educational field, people with higher levels of education are more included in the Finance system. Peruvians with postgraduate studies have a financial inclusion index of 65.3 points, while those with university and technical education have 55.2 and 47.8 units, respectively. In the segment of people who do not have education, this is barely 22 points.
Another aspect in which differences in the levels of financial inclusion are identified is the geographical area in which people live. Peruvians living in urban areas have an index of 42 points, while citizens residing in rural areas have 30.9 units.
The levels of this are also higher among dependent workers (52.3 points), independent workers (40.4) and students (43.9). Housewives (30.8) and the unemployed (28.7) are less included in the Finance system.
Finally, Peruvians who have Internet access have a much higher rate than those who are not connected to the Internet: 44.7 and 25.4 points, respectively. Undoubtedly, digitalization and the adoption of digital solutions is an enabler of financial inclusion in Peru, the study concludes.
Source: Larepublica
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