First of all the External circular 010 of 2024 extends the scope of the procedure binding simplified transition of clients to low transaction cost investments in any type of security, not just equities, including other assets such as bonds and securities representing shares in collective investment funds (FIC). In that sense, the borders established for […]
Tag: super financial
The financial sector is also feeling the effects of the economic slowdown
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 […]
The cap rate for credit cards will be reduced to 44.64% in June
The usury rate, the maximum that banks can charge for purchases with credit cards or regular credit, falls again for the month of June and amounts to 44.64% effective per year. The cut equates to a 77 basis point decline from May this year, when it was 45.41% year over year. The rate certified by […]
Superfinanciera requests information from supervised entities
Colombia’s financial regulator sent a letter asking for “more cooperation” at the counters of the legal representatives of banks, brokers, insurers, cooperatives and all companies and organizations supervised by the financial authority. In a few words, the document, signed by the head of the financial superintendence Cesar Ferrar, aims to access information of any person […]
Cesar Ferrari took office as the new financial superintendent (e)
Cesar Ferrari took office as Colombia’s new financial superintendent this Friday, in the presence of Finance Minister Ricardo Bonilla. Ferrari, who has dual Colombian-Peruvian citizenship, was an economic adviser to President Gustavo Petro. Arrived to replace Jorge Castaño who left office last Thursday. Initially he was appointed Director of National Planning, but due to his […]
Usury interest rates shoot up to 43.26%
This increase that applies for January 2023 has been certified by the Financial supervision of Colombia represents an increase of 180 basis points from the rate in effect in December 41.46% annual cash. The usury rate represents the maximum value of indemnity or default interest an organization can charge to the agents of the economy […]
Financial entities reimbursed $270 billion to users for fraud
The financial inspector, Jorge Castaño, confirmed that the financial entities this year have had to reimburse users for funds of $270 billion in cases where the fraud was discovered as a result of security flaws of said entities. “What we are doing is preparing entities by raising their standards to protect the information of financial […]
In Colombia, 33.5 million people have financial products
In the past year, 1.5 million people have acquired Products financial in for the first time Colombia, due to an increase in financial inclusion in the country. With this data, 33.5 million adults were reached with at least one product with the financial system. With these results, the indicator of financial inclusion by the end […]
RappiPay becomes a financial entity
RappiPaya jointly controlled financial entity Rappi and Banco Daviviendawas authorized to operate as a finance company by the Financial Supervision of Colombia (SFC). After obtaining this authorization, the entity announced the capabilities for: financial products with deposit and savingswhich comes on top of the credit card RappiCard. RappiPay started operations in April 2019 with the […]
Take care of your wallet: the 5 most used modalities in fraud and scams
Did they offer you a company that inspired you to improve your financial life or achieve high profits? Be very careful as you can fall victim to a scam. The difference modalities by fraud Yes scam They are the order of the day, pyramids, credit repair companies, fake lenders† investments in crypto assets and illegal […]