The approval at the insistence of thea Law to strengthen municipal savings and credit banks to promote competition for the benefit of consumers by the Congress of the Republic promote the participation of these entities in the financial marketmaintains the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC).
“The balance of this regulation that has been approved is going to have a great impact. It is going to allow the savings banks to have a (greater) participation in the financial market. Now it is quite concentrated, 85% is concentrated by the banks, and the The remaining 15% is shared by the savings banks with just over 8%, almost bordering on 9%,” said Jorge Solís, president of the FEPCMAC at a press conference.
Four municipal savings banks would have their credit cards ready this year
In this sense, the representative of the business union estimates that with this norm the participation of municipal savings banks in the financial market would reach up to 15%. “So with this participation in the market, it can have a boost in the next 4 or 5 years, we can reach a 15% participation in the financial system,” he commented. Paragraph
On the other hand, the FEPCMAC indicates that the approval of the standard, which is still pending its publication in El Peruano and its regulations, will strengthen financial inclusion in the country, mainly in sectors that have less access to credit such as mypes and small farmers.
Women and loans in municipal savings banks
On the other hand, the president of the FEPCMAC indicated that currently around 50% of the credits granted by the municipal savings banks are for women. “This country is a country of entrepreneurs and women are entrepreneurs,” he stressed.
In addition, he stressed that the most outstanding loans for the female population are business loans. “Most are microentrepreneurs and more specifically loans to small businesses,” she explained.
Source: Larepublica
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