The municipal savings banks are asking the central government for economic strengthening with the aim of offering more loans to micro-entrepreneurs seeking economic reactivation. John Sarmiento Tupayachi, manager of Corporate Services of the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC), told La República yesterday that the request was made to the president Dina […]
Tag: municipal boxes
State of emergency: who can reschedule their debts for up to 6 months and what conditions are requested?
following the damage caused by the passage of cyclone Yaku in several country regionsthe Superintendency of Banking, Insurance and AFP (SBS) authorized the financial entitiesthrough the Multiple Office 12174-2023-SBSto adopt exceptional measures so that they can be applied to the credits of the debtors who were affected in the Areas declared in a state of […]
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, […]
Municipal Savings Banks are already authorized to issue credit cards
He Congress of the republicafter approving it by insistence, promulgated the Law No. 31711, which strengthens the municipal savings and credit banks (CMAC) to promote competition for the benefit of consumers. The purpose of the rule is to enable the entry of multilateral organizations to strengthen the assets of these entities and promote financial inclusion […]
Fixed-term deposit: which banks, finance companies and municipal savings banks pay the best rates in March?
who have a surplus money they usually save it under the mattress, in savings accounts, mutual funds or time deposits. In this note we offer you a bank tour so that you know which finance companies, municipal savings banks and banks — regulated by the Superintendency of Banking, Insurance and AFP (SBS) — best remunerate […]
If the bank or savings bank goes bankrupt, up to what amount can I recover my savings?
Have you ever wondered what happens if the bank to which you have entrusted your savings declare bankruptcy? It is necessary to know that there is a Deposit Insurance Fund (FSD), which is a financial backing in case the entity is declared in a state of dissolution and liquidation. Can you get all your deposited […]
Municipal savings banks would occupy 15% of the financial market
The participation of the municipal boxes in the financial market would experience a considerable increase in the next 5 years and would reach up to 15% after the recent approval —by insistence— in Congress, of the law that authorizes these entities to issue credit cards, foresees Jorge Solís, president of the Peruvian Federation of Municipal […]
Financial market: participation of municipal savings banks would reach 15% in the next 5 years
The approval at the insistence of thea Law to strengthen municipal savings and credit banks to promote competition for the benefit of consumers by the Congress of the Republic promote the participation of these entities in the financial marketmaintains the Peruvian Federation of Municipal Savings and Credit Banks (FEPCMAC). “The balance of this regulation that […]
Four municipal savings banks would have their credit cards ready this year
Five municipal savings banks would launch their first consumer credit card in the second half of 2023, once the regulation of the law approved by insistence in the Congress of the Republic is made official and drafted, which will allow them to access this type of market today covered only by banks. As detailed by […]
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, […]