“Delays have, of course, an impact due to the inflationary context we are experiencing. People lose their purchasing power and eventually it becomes more difficult for them to meet their obligations, but it is not necessarily the most important factor,” said Patricio Diez Bonilla, CEO of Compartamos Banco.
The executive added that it is the diversification of the business, especially in ConCrédito, which has a different risk profile than other products, which has been increasing payment defaults.
However, the group said they felt comfortable with those delinquency levels and Diez Bonilla said that the range of up to 4% is a level in which they still feel comfortable.
Gentera received income of 405 million pesos from commissions, of which 13% of this amount was due to late payments from its clients.
In the quarter, the firm highlighted that the Yastás correspondent network had a 9% growth in users, although its operations fell almost 6%. The drop in operations was mainly due to the fact that Banco del Bienestar stopped doing some operations with Yastás.
“At the end of last year, Banco del Bienestar, given the strategy it has had to open branches, has stopped using Yastás and you can see an impact on income,” the manager explained.
