The Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac) anticipated that the placement of credits for Mother’s Day for micro and small businesses (mypes) It will not exceed 25% of what was achieved in previous years.
This forecast is especially sensitive if we take into account that microfinance institutions have a stake 40% of total credits to mypes in the financial system, compared to 20% that are served by banks. Furthermore, 70% of the savings bank portfolio corresponds to small businesses.
In dialogue with La República, the president of Fepcmac, Jorge Solís, pointed out that the current season is on a “tightrope” due to the impact of social protests and natural phenomena on the mype sector, which has been aggravated because businessmen They have not been able to leverage investments from previous campaigns or access loans guaranteed by the State of Impulso Peru.
In this sense, Solís estimates that this Mother’s Day it will follow the same path as the end-of-year parties and the school campaign; the latter, with placements that did not exceed 30% of what was expected. May is a month in which, especially, capital moves around white goods, textiles, florists and restaurants, among others.
“At the cashier system level, each campaign for Mother’s Day represents at least S/2,000 million in placements. For this year, the projection is S/500 million in loans for mypes and consumer loans”, lamented Solis.
Impulse MyPerú: changes
Fepcmac accuses that, three months after Impulso MyPerú was presented, “not a single loan has been placed” with a guarantee from the State, to the point that it is now insufficient due to the havoc that has plagued the country in the first quarter of 2023.
The association proposes a leverage of S/1,000 million to the savings banks, an increase in the financing of Impulso MyPerú for an additional S/3,000 million “under softer conditions”, and an extension of the good payer bonus (BBP) from S/280 to S/600 million.
“Mother’s Day is coming and not a single credit has been placed. What the MEF raised is totally outdated today,” he noted.
Savings banks seek to increase competition
The credits of the savings banks are destined to commercial activities (32.4%), transport and communications (8.5%) and real estate activities (7.7%), according to the CCL.
The first digital wallet of the municipal savings banks will be presented in June. It will compete directly with Yape and Plin, with a universe of 12 million customers.
Up to three boxes will launch their first credit card this year. Two more will do so in 2024.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
