As of December 2021, the Municipal Savings and Credit Banks (CMAC) registered an annual growth of 10.9% (S/ 2,846 million) by obtaining S/ 28,936 million in the credit portfolio compared to 2020, reported the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC).
The most demanded financial products were those aimed at micro and small businesses (mypes). These represented 67.8% (S/ 19,628 million) of the total placements of the CMAC system.
Another product that achieved significant development was that of consumer loans, which concentrate 19.9% (S/ 5,750 million).
As for deposits as of December 2021, the municipal savings banks registered S/ 24,526 million in the deposit portfolio. Among these, the most demanded products were time deposits, which are 58% of the total portfolio (S/ 14,130 million) and which had an increase of S/ 674 million compared to the December 2020 period.
Likewise, in the process of financial inclusion, the municipal savings bank system, as of December 2021, had 960 agencies nationwide (81% are in the interior of the provinces) and more than 58,000 correspondent agents (73% are in the interior of the provinces), said Fernando Ruiz Caro, president of the FEPCMAC.
2022 projection
In the credit portfolio, the FEPCMAC is projected to have an annual growth between 11% and 12% for the period of December 2022, with a balance of around S/ 32,000 million.
In the deposit portfolio of the municipal savings bank system, it is expected to have an annual growth between 7% and 8% for the same period. with a balance of around S/ 26,000 million.
Source: Larepublica
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