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Peru’s financial inclusion continued to grow in 2014

Peru’s financial inclusion continued to grow in 2014

Posted by Juan Gavasa on January 05, 2015

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.
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