Financial inclusion continued to grow in 2014 due to the dynamism of credits and deposits, contributing to increased banking penetration, announced Asbanc, Peru`s National Bank Association.
“The financial inclusion ratio continued to improve in 2014 in such a way that, as of September 2014, the ratio of bank deposits to GDP stood at 31%, while credits to GDP increased to 32%,” Asbanc pointed out.
However, there is a long way to go on this issue, taking into account our country is still below the average for Latin America and the Caribbean; considering the way financial inclusion influences the economic development and the reduction of poverty in the countries.
The level of savings continues to increase, but at a slower pace compared to previous years.
Deposits totaled PEN 175.8 billion (about 58.7 billion), a 2% rise compared to November 2013.
(END) JJN/JJN/RMB
Published: 12/31/2014