Municipal Boxes win S/399 million, but three drag losses and are observed by the SBS

At the end of 2024, the municipal savings and credit boxes in Peru, financial arm of micro and small businesses (Mypes), registered a total of S/399 million in their earningswhich implied a growth of almost 50% compared to the year 2023 that obtained S/266 million.

“It is a general recovery for the economy of 2024, which was more stable than previous years for the political issue. That helps people’s confidence, but without exaggeration. Banks They have had very good Utilities Also, ”said economist Jorge Luis Ojeda to the Republic.

According to data from the Superintendence of Banking, Insurance and AFP (SBS), of the 11 boxes municipal that operate in the PeruSeven registered an increase in their net profits, one decreased and three entities suffered losses for almost S/10 million.

At the discretion of economist Cesar Antúnez, the key factors that contributed to good balance are “the increase in creditthe improvement of Financial incomethe efficiency of these institutions to reduce administrative expenses and the reduction of the reference rate ”.

The three boxes that lead in net profits

In detail, Huancayo box He led the ranking of earnings with an increase of 88.9% compared to 2023, after reaching an utility of S/124 million. In addition, he displaced second place to Cusco box (S/109 million) that had been heading the list for 11 continuous months. This entity reported a growth of 104%.

To complete the podium, Arequipa box registered a 36.7% increase in its profits by reporting S/101 million. And although Piura box He ranked fourth when registering S/30 million, was the entity that retreated the most with a 56% drop in his profits.

Three municipal boxes in red

In contrast, there are three municipal boxes that closed in red, and are located in the last places of the ranking. These are Box of the saintwhich reported a 259% drop and suffered a negative balance of S/764 million. In the last eight years, this box accumulates red figures.

It follows Paita boxwhich registered a loss of S/2 million 842,000, and finally Maynas reported a contraction of S/6 million, a 40% drop (in 2023 it lost S/10 million).

“These three boxes are not being efficient. By decreasing its participation (from the market microfinance), they also lose their usefulness, ”said Antúnez.

A component to consider is the global capital ratio, an indicator that helps to assess whether the entity has enough capital to support its risks and guarantee its financial stability.

“It is still raised by 14%, the minimum is 10%. Maynas box It can still be recovered, but if they continue to have losses, it would influence its ratio, ”he established. In the case of Caja del Santa, he registered the lowest capital ratio with 12.3%. A main component is the effective heritage.

“It is evident that the SBS is reviewing the progress of its management indicators. They are at a time of observation, although at the moment they are not to be intervened, ”said Ojeda and added that the SBS Check the information they send in greater detail to see if the trend begins to deteriorate.

“The intervention is the last resort as what happened with Sullana in 2024, which had a heavy wallet that was not charged because they did not know how to administer”

Antúnez points out that the three boxes that report today have received observations from the SBS, who has asked for sample files. “If the losses follow, the visits will follow. And this could lead to an intervention. ” Indian.

For its part, the Arequipa, Huancayo, Piura and Cusco boxes They maintained their leadership in the market, by jointly concentrating 82% of the participation.

The delinquency index increased to 6% due to the decrease in customer payments. According to Ojeda, this rate is high and is above the pre -Pandandemics. “It should be at 3.5%,” he said.

The municipal boxes most affected by this increase are Paita, with the highest index (9.8%), Maynas (9.3%) and Tacna, with a mora of 8.8%.

Ratios below Fighes Caja Arequipa with 5.4%, and the rest of the boxes such as Ica, Cusco, Huancayo and Lima maintained a lower, 4%dwelling, which shows efficiency in the recovery of the credits.

Rural boxes: six years of losses

A very adverse panorama is rural boxesthat for the sixth consecutive year they record accumulated losses of S/220 million, says economist Cesar Antúnez.

Factors that explain the deterioration of the results are the Slow growth of the loan portfoliowhich is the main source of income of these boxes, and administrative expenses, which include operational and personnel costs, which increased 4.1%.

On the other shore of the financial system, banks had record profits when reaching S/10,325 million, 12% more than 2023. It leads the BCP with S/5,216 million and follows BBVA with 1,886 million, according to data from the SBS