The banking sector has already begun to show signs of improvement in line with macro economic indicators. Measures taken by the national government and the Central Bank of Colombia appear to have enabled the sector to weather the storm, and improving economic conditions should pave the way for a positive performance from the financial sector. Despite the slow evolution of equities trading,...
Colombia Financial Services
Chapter | Financial Services from The Report: Colombia 2019
Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.
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Since the drop in commodity prices in 2014, Colombia’s economy has been recovering and is set to expand in 2019 and 2020. In May 2018 Colombia was invited to become the 37th member of the OECD, a positive development that should increase the country’s international political and economic prominence in the coming decades. However, challenges to ensuring Colombia’s continued economic progress remain.
Chapter | Capital Markets from The Report: Colombia 2017
Developments in Colombia’s capital markets in recent years reflect those in the wider economy. The well-established sovereign fixed-income market has seen increased issuance as the government seeks to finance its widening budget deficit while rolling over its existing stock of debt. Increased global economic uncertainty, with bouts of extreme market volatility that particularly impact emerging...
Colombia is the fifth-largest insurance market in Latin America by premiums collected. However, it features weak penetration and density – measures of premiums compared to the size of the economy and the population, respectively – compared to other large markets in the region. Nonetheless, the fact that the country has been able to weather the recent economic storms better than many in the...
Although the Colombian economy has been affected by a slowdown in recent years, the country’s banking sector has remained resilient. The majority of the impact has been felt in the external sector, particularly due to changes in the foreign exchange rate. Meanwhile, lending growth remained relatively strong until mid-2016, when the combined effects of weak investment and higher interest rates...
Following a landmark peace agreement and a late-2016 tax reform package, 2017 looks to be a year of significant promise for Colombia. The country has been in recovery since the 2014 collapse in oil prices, which predominantly affected exports, government revenues and the exchange rate. However, with the external sector acting as a shock absorber, the authorities helped ensure that domestic demand was able to pick up some of the slack.
Colombia’s insurance sector has been enjoying strong growth, supported by the country’s underlying rate of economic expansion, a growing middle class, product development and the entry of new players into the industry, with growth being strongest in the life insurance segment of the market. However, penetration and density rates remain low. According to the Colombian Insurers Association,...