facebook
linkedin
twitter
About Us
  • BFSI
  • Energy
  • Infocom
  • Mining
  • Venture
  • Industry
  • Travel
  • Civic
  • Food, Health, Ag
  • Real Estate
  • Responsibility
  • Economy
  • Law & Justice
  • Interview
  • Analysis
Credit Card JESHOOTScom / Pixabay

1.1 Million Colombians Joined the Formal Financial System in 2017

Posted On August 5, 2018
By : Jared Wade
Comment: Off
Tag: Banca de las Oportunidades, banco de comercio exterior, Bancoldex, bogotá, Financial Inclusion, Financial Superintendence, Financial Superintendence of Colombia, Juliana Álvarez, Opportunities Bank, superfinanciera

With another 1.1 million people securing some sort of financial product in 2017, roughly four out of five Colombians now are a part of the formal financial sector.

This figure represents an 11% uptick in the number of new entrants to the system over the previous year. Around 999,000 people secured financial products for the first time in 2016.

Savings accounts make up the highest percentage. More than three in four adult Colombians (75.6%) have a savings account.

About 15 million Colombians have a product based upon credit, including credit cards, home loans, car loans, microcredit, and other lending services.

The figures come from a recently released governmental report, “The 2017 Financial Inclusion Report,” prepared jointly by the nation’s top financial sector regulatory, the Financial Superintendence (Superfinanciera), and the Opportunities Bank, which is an investment program overseen by Bancoldex (Banco de Comercio Exterior).

Bogotá, the capital of Colombia, is the location with the highest adoption rate across all types of financial products at 96%.

Overall, people in cities have significantly more interaction with the financial system than those living in rural areas. Bridging that gap is a key challenge going forward, according to Juliana Álvarez, director of the Opportunities Bank.

(Photo: JESHOOTScom / Pixabay)

DON'T MISS OUT: The only English-language Colombia news that's strictly business, markets, & investment!
Join global executives & investors by subscribing to our FREE weekly updates
I agree to have my personal information transferred to MailChimp ( more information ) DISCLAIMER: Protección de Datos Personales Artículo 15 de la Constitución Política de Colombia, ley 1581 de 2012 y decreto 1377 de 2013.
We will never spam you or share your email address ¡Nunca Jamás!

Share the news!

  • Facebook
  • Twitter
  • Print
  • Email
  • WhatsApp
  • LinkedIn
  • Skype

Related

Share your thoughts:

comments

About the Author
Jared Wade is editor in chief of Finance Colombia. He is a Bogotá-based journalist with 15 years of experience covering topics including business, financial services, Latin America, and sports. Email him at jared.wade(at) financecolombia.com or follow him on Twitter at @Jared_Wade.
  • google-share
Previous Story

IDB Invest Issues Local Currency Bond in Colombian Pesos Equivalent to $50 Million USD

Next Story

Asobancaria Partners with OAS to Strengthen Cybersecurity in Colombian Financial Sector

Related Posts

Today, Colombian voters elected Gustavo Petro as the next president of Colombia, along with his running mate Francia ‘Márquez Mina as vice president
0

Gustavo Petro Elected Colombia’s Next President

Posted On June 19, 2022
, By Loren Moss
0

Finance Colombia Video News Recap: What Will Happen In Tomorrow’s Presidential Elections?

Posted On June 18, 2022
, By Loren Moss
Viva Buenos Aires
0

Viva Launches New Routes Connecting Colombia & Argentina

Posted On June 16, 2022
, By Loren Moss




Search

RECENT

POPULAR

COMMENTS

US President Joe Biden Speaks with Colombia President-Elect Gustavo Petro

Posted On June 22, 2022

Guest Editorial: Colombia’s Establishment Wins Again, But at What Price?

Posted On June 20, 2022
Today, Colombian voters elected Gustavo Petro as the next president of Colombia, along with his running mate Francia ‘Márquez Mina as vice president

Gustavo Petro Elected Colombia’s Next President

Posted On June 19, 2022

Finance Colombia Video News Recap: What Will Happen In Tomorrow's Presidential Elections?

Posted On June 18, 2022
Viva Buenos Aires

Viva Launches New Routes Connecting Colombia & Argentina

Posted On June 16, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020
Reason Foundation's Daniel Raisbeck

The Reason Foundation's Daniel Raisbeck On What Peru's Election Can Tell Us About Economic Liberty In Colombia & Latin America

Posted On June 13, 2021

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

AVIANCA IS BANKRUPT

Posted On May 10, 2020

[…] The Reason Foundation’s Daniel...

Posted On June 20, 2022

[…] The Reason Foundation’s Daniel...

Posted On June 20, 2022

[…] Finance Colombia: Colombia and...

Posted On June 19, 2022

[…] Finance Colombia: Colombia and...

Posted On June 19, 2022

[…] Colombia, CARICOM Countries...

Posted On June 15, 2022

Watch This!

Consider Advertising With Us

Click here to visit Expat Group's English site

Subscribe Free

don't forget to include "http://"
* = required field
Your Background / Function








unsubscribe from list

RECENT

POPULAR

COMMENTS

US President Joe Biden Speaks with Colombia President-Elect Gustavo Petro

Posted On June 22, 2022

Guest Editorial: Colombia’s Establishment Wins Again, But at What Price?

Posted On June 20, 2022
Today, Colombian voters elected Gustavo Petro as the next president of Colombia, along with his running mate Francia ‘Márquez Mina as vice president

Gustavo Petro Elected Colombia’s Next President

Posted On June 19, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

[…] The Reason Foundation’s Daniel...

Posted On June 20, 2022

[…] The Reason Foundation’s Daniel...

Posted On June 20, 2022

[…] Finance Colombia: Colombia and...

Posted On June 19, 2022

Watch This!

Contact Us (Click the image):

Pages

  • About Us
  • Colombia Events, Conferences, Festivals and Important Dates
  • Contact Us
  • main
  • Media Partnerships
  • Privacy Policy
  • Search Results
  • Whatsapp test page
Copyright 2014-2020 Finance Colombia All Rights Reserved. We may earn commissions from qualifying purchases.
Posting....
WhatsApp us