Despite the high interest rates that this month reached levels of 12% to try to cope with the inflation that on an annualized basis reached 12.53 in November, many citizens continue to acquire credits in banking entities.
RCN Radio consulted Andrés Mauricio Velásquez, market manager of Confiar Cooperativa Financierawho specified that many citizens have acquired new credits but cover the needs that are not enough with salaries.
“Usually what you do the Banco de la República is to increase the interest rate to reduce people’s appetite for credit. However, both in the market and with our partners, we have shown that people continue to require credit,” he said.
He added that “in general interest rates have risen. However, people continue to require credit, they continue looking for credits and that has been affecting a little the relationship that it has with the delinquency indicator”.
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The expert pointed out that people are looking for credit not to buy new products, but rather to cover the needs that were previously covered with their salary or savings.
He also said that people have sought to refinance their credits, in order to optimize the money that comes in monthly.
“They have had to refinance their obligations to reduce the installment and increase the terms, which in time is a bit dangerous for the economies of families of the country, because we can enter into a high default risk for the entire system in general, it is even already being noticed,” said the expert.
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He said that the financial products that are moving the most at this time are the free investment, housing or mortgage loans and thirdly, there are consumer ones such as credit cards.
Meanwhile, Andrés Velásquez recommended that people be a little more austere to close this year, in favor of their quality of life and tranquility.