Credit Access it becomes the second microfinance institution to disappear from the Peruvian market in less than a month, according to information confirmed by the Superintendency of Banking, Insurance and AFP (SBS).
Acceso Crediticio was a company that offered vehicle loans to sectors not served by traditional banks, such as taxi drivers. Now, its operating license has been revoked.
SBS reported that Acceso Crediticio’s effective equity has fallen by 70% in the past year, bringing its global capital ratio down to around 2.9%.
Until the closing of the SBS report, the loan company had reported an effective equity amounting to S/26.6 million (-69.3%).
As recalled, in mid-August the SBS also decided to intervene in the microfinance company Caja Raíz.
Source: Larepublica
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