Where do you keep your money?: These 2 banks closed their profits with millions of soles in losses, according to the SBS

According to the information provided by the Superintendence of Banking, Insurance and AFP (S.B.S.), at the end of March 2024the financial entities Banco Ripley and Banco Pichincha had losses of millions of soles compared to a previous month.

In the case of Ripley Bankclosed February with losses of 10 million soles, a figure that increased to 15 million by the end of the first quarter of 2024. On the part of Pichincha Bankthe losses were greater, since in February it closed with 34 million soles in losses and in March it increased to 37 million.

Which banks lead profit gains?

The same information provided by the SBS indicates that of 17 banks, 15 present positive figures, where BCP registers the greatest growth with S/1,272,334,197. In second place, very far away is BBVA with S/350,101,604. Scotiabank follows with S/230,215,826. Fourth place is placed by Intebank with S/124,959,678.

And about the financial ones?

‘Compartamos Financiera’ continues to occupy first place with almost four times more profit (S/21,970,261) compared to the second place occupied by MAF (S/6,305,322), and the third place held by the financial company Effective with S/6,242,943.

It should be noted that financial institutions are the hardest hit, where of a total of nine entities, almost half are in loss. Those in red are: Financiera Qapaq, CrediScotia, CredinKa and Financiera Oh!.

How were the profits in the municipal funds?

Of a total of 11 municipal savings banks, seven have profits, where Caja Cusco is the undisputed leader with profits until March of S/15,035,579. Caja Arequipa follows with S/9,540,105.

The boxes that are in loss are: Caja del Santa, Caja Paita, Caja Tacna and Caja Sullana; The latter registers losses of more than 26 million soles.

What are utilities?

According to the information provided by SUNAFIL, profits are a percentage of the profits that every company obtains during a year. Employees on the payroll have the right to share profits when their employer carries out third-category income-generating activities and they have more than 20 workers, with the exception of individual companies, microenterprises, self-managed companies, cooperatives, communal companies and civil societies.