The consumer portfolio is the modality that provides explanations to a greater extent this dynamic, as it registered the highest quality indicator since 2009 (7.15%), while the maturities of the three modalities are slightly increasing this year. In a context of economic slowdown and tight financial conditionsat Asobancaria, we expect portfolio growth to slow from […]
Tag: financial sector
For example, the financial sector promotes goals in the environment
Micro, small and medium-sized businesses represent approximately 99.6% of Colombia’s business fabric. These companies generate 79.1% of employment and contribute 40% to GDP, according to Anif figures. Therefore, it is crucial to recognize its action in the country’s economic and productive activity, thus being a key factor in reducing poverty and promoting development. One of […]
Banco Pichincha is committed to promoting the savings culture
The executive president of Banco Pichincha Colombia, Germán Rodríguez Perdomo, assured that they are moving forward in a transformation process based on the development of new channels, the transformation of the value offering and some adjustments in the organizational structure. He stressed that Colombia is the first country in Latin America where the Group has […]
Banking crisis revives the spirit of 2008, but 2023 is different: experts
In USA The most striking case is that of Bank of the First Republicanother mid-sized entity that specializes in serving high net worth clients who were identified by investors as the next potential victim because they also have many accounts that are not backed by bank guarantees and assets that are difficult to liquidate, especially […]
US regulators are closing Silicon Valley Bank and will protect their deposits
Financial regulators in the United States on Friday announced the closure of Silicon Valley Bank (SVB) due to lack of liquidity and insolvency and announced measures to ensure the protection of all of its insured deposits. The California Department of Financial Protection, where the entity is headquartered, explained in a statement that it took possession […]
They sign a commitment to the integration of the migrant population
The Association of Banks and Financial Institutions (Asobancaria), together with USAID, has launched the Opportunities without Borders program, which aims to increase the participation of the migrant population and host communities in the country’s formal economy. The initiative aims to work closely with the public and private sectors to strengthen their capacities, take advantage of […]
Increased financial burden on households
In line with the higher growth of the household portfolio, there was an increase in the financial burdens it bears. This is evident from the data from the Financial Stability Report of Banco de la República for the second half of 2022. Over the past two quarters, households’ financial burdens have risen and debt relative […]
PSE Payment Button records 52 million transactions per month
The Secure Online Payment Button (PSE) makes an average of 52 million transactions per month, assured ACH President Gustavo Vega Villamil, emphasizing that the registered growth is 33% this year. The businessman said that the new Transfiya service that allows financial entity customers to send, request or receive small transfers using only their mobile number […]
Banco Itaú wants to expand its presence on the Caribbean coast
One of Banco Itaú’s goals in Colombia is to continue to grow in the Caribbean coastal market, which currently represents 10% of its portfolio in the country. Baruc Sáez, president of Itaú Colombia, points out that the aim is to increase its market share, both in financial services to individuals and companies of various sizes. […]
Virtual card Buy now, pay later, the revolution in the financial sector
The Covid-19 pandemic has changed the way millions of people provide services and run their businesses. If a business doesn’t currently have an ecommerce presence, it’s most likely just a few steps away from failure. Minsait Payments, the subsidiary of Minsait, an Indra company, has accepted the acceptance of the Buy now, pay later (Buy […]