Formal credit is reaching the lower strata of the Colombian population, because according to an analysis of Experian Datacrédito70 out of every 100 loans granted so far this year through August were for low-income households (strata 1, 2 and 3). In that same period, 22.6 million credit operations were registered, a monthly average of 2.8 million operations, warns the risk center in its report ‘The reactivation of credit in Colombia by strata’.
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The figures show that credit has been recovering satisfactorily and at a rate of 40 percent, with strata 1, 2 and 3 at the forefront of said dynamics. Between June and August 2021, 33.1 percent of the loans granted were disbursed in the lowest strata (1 and 2); for stratum 3 the figure stands out considerably, increasing to 70.4 percent, in which the reputable warrantyHe has played a fundamental role in granting the loans, warns the risk center.
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Santiago Rodríguez Raga, Ph.D, professor at the Universidad de los Andes, explains that the behavior of credit in the lower strata is having considerable recovery and growth rates. “When comparing the credit operations of the first eight months of the years 2020 and 2021, it was identified that the granting of credits for the lower strata is growing more than in the other social levels, showing that the economic condition of this population is having a significant improvement by receiving real credit opportunities ”.
But the behavior of credit in strata 4, 5 and 6 is not very different, according to the study, reaching averages of 38.4 percent.
Regarding the behavior of credit by sex, in the six social strata the study shows that women are more active than men in all strata, with a total of 54 percent of credit operations.
Women have a greater reactivation in credit matters than men in the total (41 percent of women versus 35.3 percent of men) and also in all strata, being 1 and 2 the ones with the best growth for both sexes. In particular, in stratum 1 women grew 47.6 percent and men 39.8 percent, and in stratum 2, women grew 42.7 percent and men 37.8 percent .
“It is evident that female empowerment is one of the main conclusions that is perceived in the different strata. The figures are clear and indicate that women are the leaders when applying for a loan. In stratum 1, for example, women have greater dynamics with 54.9 percent, slowly decreasing to stratum 6, where they have 52.6 percent of total loans, “said Alicia Soacha, vice president of Consulting from DataCrédito Experian.
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