The government of President Pedro Castillo published the Legislative Decree that dictates measures to strengthen the National bank, in order to guarantee its long-term financial solvency and modernize its human, logistical and technological resources management instruments. With this, it is expedited to compete with traditional banking.
“We have approved the strengthening of the Banco de la Nación, which will allow automatic capitalization and allow the Banco de la Nación to modernize its role both as a State paymaster and its important role in financial inclusion,” he said the day before. Economy Minister Oscar Graham.
By means of DL Nº 1526, the Board of Directors of the Banco de la Nación is authorized to request the National Financing Fund for State Business Activity (Fonafe) an increase in its capital periodically.
The maximum amount of total capitalization that the Board of Directors of the Banco de la Nación can request is equal to the amount that corresponds to the average of the net profits generated by the Bank itself during the four years prior to the year of the request.
After this request, Fonafe pronounces itself within a maximum period of thirty calendar days, under responsibility. To determine the maximum capitalization amount, you must consider its consistency with the Bank’s Institutional Strategic Plan.
“It is a prior condition to execute the capital increase, that Fonafe reliably communicates its Board of Directors Agreement that approves the capital increase of Banco de la Nación, to the Superintendence of Banking, Insurance and Private Pension Fund Administrators (SBS), and the Comptroller General of the Republic”, states the document.
The Board of Directors of Banco de la Nación is also authorized to approve voluntary retirement programs with incentives for workers, provided that they are budgeted and in compliance with the specific guidelines established by Fonafe.
Credits for micro and small entrepreneurs
Last December, the president of the Banco de la Nación, Jose Chavez Accountsannounced that the institution could offer loans of between S/ 500 and S/ 60,000 to micro and small entrepreneurs, as part of its presentation before the session of the Consumer Defense Commission in the Congress of the Republic. This forecast should be confirmed in the coming days through a new publication.
The official explained that the interest rates in the state entity would be lower than those charged in the market. “The bank would be granting rates between 10% and 45%; (currently) the rates in the market are between 15% and 90%”, he pointed out on that occasion.
In addition, he stressed that the Banco de la Nación would take between 15 and 18 months to implement the service, the same that would be aimed at small entrepreneurs who are excluded or do not have access to the financial system.
In this sense, he stressed that the objective of the state entity is to complement the offer currently granted by private banks. Likewise, he estimated that the potential demand for the service would be S / 10,387 million, while the cost to implement it would be around S / 100 million.
Source: Larepublica
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