Although for 18 months in Colombia the interest rates have been registering decreases, the balance of the Term certificates of deposit (CDT) Last June they had a “dynamic growth”, according to a report from the Financial Superintendence.
The entity’s report on the behavior of the financial system at the end of the first half of the year gave an account of an increase in deposits and liabilities of credit institutions (CE) (banks, financial corporations, financing companies and financial cooperatives)as they recorded a balance of $697 billion, with an annual real variation of 1.2% (nominal of 8.4%).
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By type of deposit, according to the Superfinanciera, Month-over-month increases of $782.6 billion and $7.8 trillion in checking and savings account balances were reportedwith an annual real variation of -9.1% and 2.5%, respectively.
CDT.
For its part, The balance of savings accounts closed the sixth month of the year at $302.4 billionCDT with $305.2 billion and current accounts with $71.5 billion.
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The Superintendency of Finance said that in June there was a year-on-year increase in CDT of $27.1 billion in the nominal balance (10%), which represents a real growth of 2.4%.
The balance of CDTs with a maturity of more than one year reached $170.8 billion, of which $107 billion corresponded to deposits with a term of more than 18 months.equivalent to 35% of the total of this type of securities, according to the entity’s statistics.
The biggest variations
For its part, CDTs with a maturity period of less than 6 months grew by 28% to $59.9 billioncompared to $43.6 billion a year ago, according to the Financial Superintendency.
According to David Susa, CTO and co-founder of MejorCDTAt this time of year, many people have more resources thanks to the bonuses and premiums they receive from their companies, which generates seasonality in investment.
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He assured that CDTs are a safe haven in times of uncertainty, as they offer the certainty of knowing how much one will earn from the beginning. In addition, they are backed by entities regulated by the Superintendency of Finance and protected by Fogafín.This makes them the ideal option for those who have significant resources that they do not want to risk, such as money for the down payment on a house, tuition for children’s college or university, vacations, or even the capital obtained from the sale of a property. At times like these, the most natural thing to do is to opt for a safe option, and that is where CDTs come into play.“, he assured David Susa, director of MejorCDT.
CDT.
Similarly, although rates have declined, they remain in double digits (for example, they are currently at 11.8%), while inflation has declined at a faster pace.
“This allows people to perceive a higher profit in real terms, after discounting the effect of inflation. Therefore, today could be an ideal time to invest and secure a good long-term rate, with terms of 1 to 2 years as a minimum.“, the executive said.
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David Susa commented that it is also important to keep in mind that banks need stable funding for their operation, and soon a key date related to the CFEN is approaching, an indicator that measures them.
CDT
This has led banks to activate their strategies to raise funds from the public through this type of securities.
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For a bank, CDTs are preferable, Because they allow them to work with the resources for a time, without the need to have them ‘in sight’.which also reduces the risk of so-called ‘capital runs’, the executive said.
And finally, the balance of money invested in CDT tends to grow constantly, Since people usually renew their investment along with the interest generated.
HOLMAN RODRIGUEZ MARTINEZ
Portfolio Journalist
