SBS: “Portfolio of credits rescheduled in Municipal Funds to April are a tenth of what was seen in the pandemic”

The deputy superintendent of Banking and Microfinance of the SBSJorge Mogrovejo, affirmed that the critical episode that the Municipal Savings and Credit Funds experienced during the pandemic has been practically overcome.

During his presentation at SIM Cusco, an event organized by the Federation of Municipal Savings and Credit Banks (Fepcmac) in the southern region, Mogrovejo reported that as of July 2020 the reprogrammed portfolio compared to the total that the Municipal Savings and Credit Credit was 70%.

“We can say that the page has turned. Even after the protests and the rainy episode, SBS was concerned about the impact on the system and that new reschedulings might take place. However, as of April 2023, the rescheduled portfolio for savings banks is 7%. A tenth of what was had in a pandemic. The system is on the right foot.”held.

Added to this is the growth in credits. Mogrovejo reported that as of April of this year the growth of the credit portfolio was 13%, above that registered in the total financial system (3%).

And although the capital ratio of the municipal savings bank system is positive, Mogrovejo asked to be cautious.

“This growth should call us to caution. In the first quarter of the year, the Peruvian economy decreased. Bad portfolio is often a problem at times of high credit growth. In high portfolio growth, when the economy is shrinking, it is necessary to be cautious”

Jorge Mogrovejo, Deputy Superintendent of Banking and Microfinance of the SBS.

Faced with this, he called on these institutions to maintain the solidity of their risk management and corporate governance foundations. He recalled that, as of April, these institutions serve 2.2 million clients. “There is no room for mistakes”ended.