The participation of the municipal boxes in the financial market would experience a considerable increase in the next 5 years and would reach up to 15% after the recent approval —by insistence— in Congress, of the law that authorizes these entities to issue credit cards, foresees Jorge Solís, president of the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac).
“The balance of this norm that has been approved will be of great impact. It will allow the savings banks to have a (greater) participation in the financial market. Now 85% is concentrated by the banks”, detailed the union representative.
In addition, he maintained that the remaining 15% is shared by financial companies, cooperatives and savings banks, the latter having a participation of less than 9%.
“With this (law), the market share (of the municipal savings banks) can have a boost. In the next 4 or 5 years we can reach a 15% share in the Finance system”, estimated.
The rule, which also allows the entry of multilateral organizations such as the world Bank or the Inter-American Development Bank (IDB) as third-party shareholders, in Solís’ opinion, it will also allow the sustainability of the savings banks and facilitate financial inclusion in the country.
“The incorporation of these organizations will not only have a patrimonial impact on the savings banks, but will also allow initiatives in green finance, gender equality and rural financing to be worked on,” he comments.
Among the sectors benefited are the mypes, which to date are its main clients. Well Of the more than S/33 million loans granted, around S/15.9 million belong to small companies and S/6.3 million to micro-enterprises. While the credits of consumption accumulate S/6.9 million (see infographic).
Women and credits
On the other hand, the president of the Fepcmac indicated that currently around 50% of the credits granted by the municipal savings banks are directed to the women.
The loans most requested by the female population are business loans. “Most are microentrepreneurs and more specifically loans to small businesses,” she explained.
Data
Customers. The municipal savings banks have 1 million 030,974 debtors for direct loans to small businesses.
More figures. People who have applied for a small business loan are 398,442.
Infographic – The Republic
Infographic – The Republic
Source: Larepublica
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