The women show a greater propensity to save, have increased their levels of access to formal credit and look for products that guarantee security and profitability, although there are still some barriers to overcome to achieve greater access to financing, said today the Association of Banks Multiple from the Dominican Republic (ABA).
The ABA highlighted the preference of financial users for products such as savings accounts and microcredits, where, for example, a ratio of 135 female borrowers for every 100 males in the microcredit portfolio is observed. The analysis carried out by the entity takes as a reference the Report on Gender in the Banking Sector 2021, recently published by the Superintendence of Banks.
In a press release, the ABA stated that, between 2013 and 2020, the population of women with at least one formal credit increased at a rate of 4.7% per year, surpassing that of men, which was only 2.8% per year.
He highlighted that greater financial inclusion was noted in the period, pointing out that the participation of the female sector in the credit portfolio of banks Multiples increased by 3.3%, reaching 37.2% of the total, as of December 2020.
The union pointed out that the women They also have a greater participation in the credit portfolio for low-cost housing, with a percentage of 54.4%, and they register an almost equal participation in loans for first homes, with 48%.
The ABA highlighted that a favorable element identified for female financial users is payment behavior, which tends to be better than that of men, which has a favorable impact on their credit risk levels.
However, he indicated that, despite the advances that have occurred in the last decade, the female population faces some challenges that make it difficult for them to have greater access to credit, among which are the difficulties to enter the labor market and the lack of guarantees (in this case co-debtors).
In this sense, the ABA specified that a higher percentage of women has a mortgage loan without a co-signer, that is, 76.2% of them acquire the loan without any guarantee, while in the male portfolio this percentage is 63.1%.
The union highlighted that in multiple banking there are different initiatives that tend to promote initiatives and policies to strengthen gender equity in the productive and personal aspects.
