Why Is My Heli Spinning

1.8 million SMEs are not served by the financial system

Today 53% of the world of micro and small enterprises (MSEs) ie, more than 1.8 million businesses, is not served by the formal financial system, said Chamber of Commerce of Lima (CCL).

"This is an opportunity for financial institutions in the country, to expand the market for microcredit in Peru, which could increase to a value of 4 000 800 million dollars," he said.

He said that these indicators should be taken as an opportunity for the microfinance sector in order to further increase the levels of banking and deepening of the system.

Demand

The FTC found that unmet demand could be captured in so far as to continue the pace of sustained economic growth and promote competition in the market for microfinance, through the entry of new operators in the financial system.

"also through mergers and acquisitions of entities that are currently operating, in order to seek economies of scale to reduce operating costs and improve the sophistication of the microfinance market with the creation of new products" he said the business association.

mentioned that all this would help to gradually reduce interest rates and delinquency levels of microcredit borrowers.

Potential

personal banking and micro segment are those with the greatest potential for growth in the Peruvian financial system, said the vice president of Scotiabank, Carlos Gonzalez-Taboada. The credit will continue to grow this year at a rate of 20%.

Via ADEX

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