Peruvians without credit experience are almost 60% of the population by 2022, according to a study

59.4% of Peruvians over the age of 18 do not have credit experience, according to an Experian study. This refers to people who have not had a valid loan in the 12 months prior to June 2022. In addition, the history of financial behavior in entities regulated by the Superintendency of Banking and Insurance (SBS) such as banks, savings banks, municipal, financial, rural banks and edpymes.

In this way, as of June 2022, 40.6% of the population had credit experience in regulated entities, this is equivalent to 10.2 million people who had a valid loan in the previous 12 months and accumulates more than US$57,000 million. in credits. This percentage is higher than 2021 (37.7%), 2020 (36.3%) and 2019 (31.4%).

“When we talk about credit experience, we refer to both loans such as credit cards or freely available loans. (…) The pandemic hit the issue of financial inclusion in Peru; howeverwe are in a recovery process and we hope that in the coming months we will once again have growth prior to the pandemic”said Elio Peralta, Experian’s senior business consultant.

Although around 134,000 people were included in June 2022, this figure is still below the more than 142,000 registered in June 2019, according to the study. Also, in terms of average credits also a 30% decrease was observed, from US$1,340 to US$933, between the period 2019 and 2022.

The Peruvian financial system has achieved a more equitable distribution in access to populations that have historically been discriminated against when entering the system, such as women and the elderly, but there are still approximately 15 million Peruvians without access to formal credit products as of June 2022. which represents 60% of the total population, they pointed out.