The Municipal Savings and Credit Bank of Piura launched its new financial product a few days ago that seeks to facilitate purchases and payments related to the business in favor of micro and small businesses. In this way, it became the second municipal savings bank to issue its own credit card. As recalled, in March […]
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Municipal banks in trouble: microfinance profits fall between 30% and 70%
The Municipal Savings and Credit Banks (Fepcmac) face a reduction in their profits that ranges between 30% and 70% due, in part, to late payments and non-payment by some clients who had rescheduled their debts. According to a magazine report Microfinancethe majority of these microfinance institutions are going through an adverse scenario for their profitability […]
Credit cards from savings banks: how much will your interest rate be compared to that of the banks?
The Congress of the Republic approved by insistence, on Friday, March 3, the law that allows municipal savings banks to issue credit cards without the express authorization of the Superintendence of Banking, Insurance and AFP (SBS). The initiative authorize that you are financial entities manage and manage up to four products: credit cards, checking accounts, […]