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"Libranzas" is a form of payroll lending that works via payroll deduction, ensuring that the lender gets paid before discretionary spending.

Bayport is an important player in Colombia's "Libranzas" or payroll lending space.

Bayport has a market share of 30% in the non-bank payroll loan sector in Colombia, with a current portfolio exceeding COP $1.3 trillion.

Libranzas are loans offered through employers and paid off through payroll deductions.

Bayport says it has made credit placements for a value of more than $110 billion pesos, thus achieving significant portfolio growth compared to December 2021.

"I am talking about a continuation of the kind of positive disruption that has already taken hold in Colombia, and which is rapidly changing the financial landscape."

The last few days have featured the 2021 version of the Colombian Investment Summit and there has been plenty to reflect on.

Last April, the company announced that it would restate its financials for 2018 and 2019 to correct an error in Alpha Holding’s derivative positions. Soon the company had to announce that it found additional accounting errors that would lead to material restatement of other...

This is a senior credit line announced in 2020 granted by the United States International Development Finance Corporation

While the plight of Estraval was a disaster of its own making, the rating agency cautions that lax regulation of non-bank financial institutions could give rise to more problems.