The Association of Multiple Banks of the Dominican Republic (ABA) revealed today that, during the last six years, the number of savings accounts and financing of women in multiple banking have increased between a 17% and 11.5%respectively, which shows a greater dynamism of the female segment as financial users.
The union specified in a press release that the number of savings accounts went from 5.2 million in 2016 to 6.1 million in 2022, which represents an accumulated growth of 17%. On the other hand, the number of men’s savings accounts in the same period went from 5.6 million in 2016 to 6.2 million in 2022, for an accumulated increase of 12%, according to statistics from the Superintendency of Banks.
The ABA indicated that, in terms of credits, as of December 2022, the balance of the wallet for women in multiple banks it amounted to 250,303 million pesos, a figure that is still below the credit directed to men (418,727 million pesos).
in the last six yearsthe credit granted to the women It has experienced an average annual growth of 11.5%, which is higher than the increase registered by men (10.2%). Thanks to this, the participation of women in the total portfolio went from 35.9% in 2016 to 37.4% in 2022, she pointed out.
They prioritize the financial inclusion
The union valued the importance of the initiatives tending to promote the financial inclusion of the womensince several studies have shown that this is essential for reduce poverty and encourage economic development.
The ABA recalled that the National Strategy for Financial Inclusion 2022-2030, in the medium-long term, published by the Central Bank, contains a series of actions and policies aimed at promoting access and use of formal financial services for all citizens, especially for women and other vulnerable groups.
In that order, the banking union highlighted that the multiple banking plays a fundamental role for the objectives of national inclusion, through a offer of products and services Financial services adapted to the needs of each client, with financial education.
In addition, the Association of Banks reported that, in line with its mission to promote a more inclusive and sustainable economydevelop a project financial inclusion together with the Supérate program and the National Police of the Dominican Republic.
