The centrality of microfinance to Peru’s economy extends beyond its contribution to banking profits, given its role in reducing poverty, accelerating formalisation of the workforce and bringing growth to regions previously beyond the reach of traditional banks. Even so, its development has not been consistently smooth. Some weaker players have been taken over or merged...
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Interviews & Viewpoints | Daniel Schydlowsky, Superintendent for Banks, Insurance and Pension Funds: Interview from The Report: Peru 2015
Just one in five Peruvians has a bank account. To what extent does this limit banking sector growth?
With a record of consistent profitability and credit growth, the banking sector has ridden the wave of Peru’s economic expansion during the past decade. As of June 2014, direct lending by the banking sector stood at PEN211.7bn ($75.58bn), having increased by 16% over the previous year. A firm regulatory environment is credited with having ensured that the country’s banks made it through the...
Economic update | Abu Dhabi’s banks eye new pastures
15 Jan 2015
The banking sector performed strongly in 2014, led by Abu Dhabi’s raft of big-ticket projects, which have proved to be a key driver of growth for larger lenders. However, signs that the market is becoming increasingly crowded, particularly in the retail segment, are prompting several players to look beyond the UAE’s borders for new business.
