During the installation of the 27th edition of the Treasury Congress, the President of the Banking Association and Financial Entities of Colombia (Asobancaria), Jonathan Malagón, said that The first 44 days of this year have been marked by numerous news of high global impact, which has generated a high degree of uncertainty.
Among them, he mentioned the historical collapse of the Nvidia action, which reduced its market capitalization in US $ 560,000 million, and the United States protectionist position, which returns international trade to the panorama of the 1970s.
Read: Transactions only from the Government would go against Confis concepts
Malagón added that, although Colombia does not escape this context, there are indicators that reflect the strength of its economy. For example, country risk has remained stable; The Colombian peso has revalued 6%, becoming the second most appreciated currency in the world only behind the Russian ruble; And inflation expectations that point to a convergence towards 4% at the end of this year, below the current 5.2% level. In addition, consumer confidence and variable income rates have increased above the average Latin America, with 2.3 percentage points and 11%, respectively.
The president of Asobancaria stressed that these results are the reflection of a solid institutionality, with the outstanding participation of the Bank of the Republic, the Ministry of Finance, the Financial Superintendence, the Fund of Guarantees of Financial Institutions (Fogafín) and the Autonomous Committee of The fiscal rule (CARF). He said that precisely institutionality has been key to safeguarding the proper functioning and stability of the financial system.
Jonathan Malagón, president of Asobancaria.
Courtesy
According to Malagón, a key factor that has provided stability to the Colombian economy has been banking. “The financial sector has the ability to absorb, dissipate and mitigate autonomously the risks derived from adverse events. We have adequate levels of capital and liquidity, which exceed the regulatory minimums,”he said.
Finally, the president of Asobancaria stressed that the stability of the bench is reflected in which the minimum capital and liquidity requirements are overmploded: the Net Stable Fondeus coefficient (CFEN) is 115% and the Liquidity Risk Indicator (IRL) in 179%, both above the regulatory minimum of 100%. In addition, he stressed that the solvency of the sector is 17%, far exceeding the regulatory minimum of 9%.
