According to the IEDEP of the CCL, an increase in the short-term interest rate is also evident due to uncertainty.
As of January 2024, micro and small businesses (mypes) concentrated 24% of the loans granted by the financial system to the business sector equivalent to S/ 248,240 million, an amount that shows a meager growth of 1.8 % compared to the same period of the previous year, reported the Institute of Economy and Business Development (IEDEP) of the Lima Chamber of Commerce.
The head of IEDEP, Óscar Chávez, explained that this low growth shows a slowdown in the expansion of said credits, while what was received by large and medium-sized companies registered a drop of 10.1% and 12.2% respectively. “The delay of the recession and business distrust in 2023 would explain these results,” commented the specialist.
High interest rate
The IEDEP maintained that, due to high administrative costs, fluctuating income and greater risk, the financial system charges MSEs a higher interest rate compared to that given to medium and large companies.
As of January 2024, banks charged mypes an average interest rate in nuevos soles of 41.9% for loans up to 360 days and 21.1% for more than 360 days. On the other hand, for larger companies they were 9.4% and 8.7%, respectively.
In turn, the interest rates in soles charged by municipal savings and credit banks to mypes averaged 43.4% for loans of up to 360 days and 24.5% for more than 360 days; while for larger companies they were 18.7% and 14.4%, respectively.
In the case of rural savings and credit banks, interest rates in soles for mypes averaged 47.4% for loans up to 360 days and 36.8% for more than 360 days, and for larger companies the rates were 15.7% and 15.8%, respectively.
“A growth in short-term interest rates is observed for mypes. This is due to the existing uncertainty, while it was expected that the economy would reactivate and inflation would continue to fall,” commented Óscar Chávez.
Delinquency
Delinquency, measured as the percentage of overdue loans over loans, was 4.8% as of January of this year. In the case of medium-sized companies, delinquency reached 14.2%, which for the IEDEP is worrying, since it is the highest rate recorded since 2014 and is the third consecutive year-on-year increase.
In the case of mypes, delinquency reached 8.5% for small businesses and 5.7% for microbusinesses, which remains at the average of recent years.
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– 2024-04-28 08:36:51
