The Superintendency of Banking, Insurance and AFP (S.B.S.) highlighted the solidity of the system microfinance Peruvian bank made up of municipal banks, rural banks, financial banks and the bank specialized in microcredits Mybank.
Look: SMEs will sell more than S/13,000 million for Christmas
In its latest Financial Stability Report, the SBS highlighted that, despite having faced economic crises, natural phenomena and social conflicts, the sector has demonstrated a notable capacity for resistance.
According to the report, at the end of August 2024, microfinance entities have a capital cushion of S/4,224 million, designed to absorb unexpected losses. In addition, these institutions maintain additional provisions (reserves to support payment defaults) for S/ 602 million, reinforcing their ability to face risks.
Key financial inclusion
The report highlights that microfinance institutions play a fundamental role in financial inclusion. These entities concentrate 14% of the total credits granted by the financial system and serve 52% of unique debtors. This means that more than half of the people with access to financing in the country depend on this system.
“Microfinance institutions continue to contribute to the strengthening of microfinance and continue to contribute significantly to closing existing gaps in financial inclusion,” says the SBS. He added that its impact extends to strengthening the economic and social development of Peru.
Look: Julio Velarde: “To win the presidency you have to have empathy”
The SBS report also highlights the system’s ability to respond to insolvency situations. During 2024, two entities were intervened, but this did not affect the confidence of savers nor did it generate a contagion effect in the rest of the sector.
This resilience is attributed to the Asset Strengthening Programs (PFP), designed by the government in 2021 and 2023. These programs made it possible to mobilize state resources through subordinated bonds and preferred shares, with specific conditions for the benefited entities, such as reinvestment of profits and limits. salaries.
In the event of default, the scheme provides for reorganization processes supervised by the SBS, which include the transfer of assets and liabilities to more solid companies, protecting customer deposits and ensuring the continuity of financial services.
Take advantage of the NEW EXPERIENCE, receive our enriched digital newspaper by mail and WhatsApp. Peru21 ePaper.
Now available in Yape! Find us at YAPE Promos.
RECOMMENDED VIDEO
