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Tag: Microfinance

Municipal banks in trouble: microfinance profits fall between 30% and 70%

Municipal banks in trouble: microfinance profits fall between 30% and 70% 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 […]

Until September, microfinance institutions placed 20% fewer loans than last year

Until September, microfinance institutions placed 20% fewer loans than last year Until September, microfinance institutions placed 20% fewer loans than last year

At the end of the third quarter of 2023, the microfinance Peruvian companies have placed close to 20% fewer loans compared to the same period last year, due to various factors such as the climate emergency and the delays in social conflict and inflation in the first months of the year. This was revealed by […]

9 municipal savings banks can now grant credit cards

9 municipal savings banks can now grant credit cards 9 municipal savings banks can now grant credit cards

After almost two years, the law that strengthens the municipal boxes and that will allow them to grant credit cards on equal terms with banks. Microfinance institutions must only have assets equivalent to 75,000 UIT (S/345 million) after their third year of operation. In fact, there are already nine boxes that meet these requirements: Arequipa, […]

Digital wallet of municipal savings banks: when can microcredits of up to S/200 be requested?

Digital wallet of municipal savings banks: when can microcredits of up to S/200 be requested? Digital wallet of municipal savings banks: when can microcredits of up to S/200 be requested?

microfinance They will launch a digital wallet that will allow transfers for S/500 a day, in addition to offering ‘lifesaving credits’ with attractive rates. Given the increasing use of mobile applications to make bank transfers, such as Yape, Plin, Tunki, among others, the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac) announced that they […]

Credicorp close to finalizing the purchase of Joinnus

Credicorp close to finalizing the purchase of Joinnus Credicorp close to finalizing the purchase of Joinnus

The BCP financial holding company with a presence in Colombia, Bolivia, Chile, Panama and the United States is in the final stage of acquiring the well-known ‘ticketera’ company. With presence in the financial market Through the four business lines it manages —Universal Banking, Microfinance, Insurance and Pension Funds, and Investment Banking and Wealth Management— the […]

Caja Arequipa, the best microfinance company of 2021

Caja Arequipa, the best microfinance company of 2021

Caja Arequipa consolidated its leadership position this year by being recognized as the best microfinance company in the country. This is thanks to the recognition of organizations specialized in performance evaluation and good governance, as well as clients of the Micro and Small Business sector. A last recognition received has been the one granted by […]

Microfinance companies will be able to benefit from the patrimonial strengthening program until March 2022

Microfinance companies will be able to benefit from the patrimonial strengthening program until March 2022

The Government of President Pedro Castillo ordered the extension, until March 31, 2022, of the term of acceptance of the subprograms of patrimonial strengthening of the Program of Patrimonial Strengthening of the institutions specialized in microfinance and term of validity of the Emergency Decree No. 037-2021. Before, the foster care period expired on October 31. […]