At the end of January of this year, the amounts in demand savings of natural persons in the banking system reached S/ 148,000 million, less than the average of the last three months in the banking system (S/ 150,000 million), according to information from the Association of Banks (Asbanc).
According to Alfredo Marín, deputy manager of Retail Products at BanBif, during the year 2020 individuals increased their savings significantly and at a constant rate (from January 2020 to December 2020 by more than S/ 10,000 million, which represents more than 8.6 % variation), but in 2021 the pace slowed down, impacted by the political environment and with outflows of funds abroad.
He pointed out that another situation that had an impact on family savings is that, by not improving private investment, employment levels in various sectors did not recover pre-pandemic levels, for example in manufacturing and services where employment is usually more stable.
The manager indicated that currently the Peruvian saver is more informed about costs, profitability and the need to save, at this point progress has been made and the pandemic has helped a lot, which made evident what happens when there are no savings.
Profile of the Peruvian saver two years after the pandemic
COVID-19, the quarantine, the contraction of employment, inflation, political instability have affected the Peruvian saver. Today more people know that it is important to have a backup capital, what is necessary to “get through the month” when there is no income and that is built with the courageous decision to postpone expenses, have discipline, put that money away (put it in an account) and really save.
¨The current saver is looking for profitability options, he can operate his payment transactions in one or two entities, but he seeks to accumulate balances in the one that offers him more interest for his money. He lives closely the effect of inflation, that is, the loss of purchasing value of the sun, the higher cost of products he buys every month (gasoline, chicken, noodles, cleaning supplies, etc.) and the rise in the exchange rate , as he knows that things cost more, he seeks to generate more with his savings¨ said.
He explained that an important group of savers now manage accounts in soles and dollars, they have active options to move their savings in case something happens that makes the sun devalue quickly and another no less important group have active options to take their funds abroad.
¨It is necessary to reinforce a culture of saving in the population at a general level, making efforts to teach saving from childhood. In this sense, in order to continue promoting the savings habit, the Superintendence of Banking Insurance and AFPs (SBS) in its second 100% digital version together with more than 50 institutions, invite you to participate in the World Savings Week (SMA), which It takes place from March 21 to 26, being the second 100% digital edition held in Peru¨ referred.
