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CREDIT RISK AND PROFITABILITY OF SHORT-TERM DEPOSIT AT SAVINGS AND CREDIT COOPERATIVES. THE CASE OF PERU
Title
Autor:
Gianluca P. M. VIRGILIO, Nixon Luis MÁS CARO, Rolando Nolverthy MINGA SARMIENTO, Jhanely DÁVILA RIVERA e Ítalo REÁTEGUI DÍAZ
Palabras clave:
QUIEBRA; RIESGO CREDITICIO: PAÍSES EN DESARROLLO; RIESGO FINANCIERO; MICROFINANZAS; COOPERATIVAS DE AHORRO Y CRÉDITO
Claves ECONLIT:
G11; G21
Revista:
Nº 142 - Monográfico: Las organizaciones de participación como protagonistas de la recuperación económica
Resumen:

Abstract
In times of record-low interest rates, Saving and Credit Cooperatives seem to promise high rates with comparably low credit risk. Peru is one of the most developed countries in Latin America as far as the cooperative sector is concerned and an attractive one as those institutions are expected to pay very much above market rates. The value of this paper is evaluating whether return rates are justified by a proportionally high credit risk, or otherwise. This research describes the characteristics of the Peruvian Saving and Credit Cooperative market and highlights the safeguarding tools used to guarantees their associates from credit risk. The paper uses official 2007-2018 data for all 143 Peruvian cooperatives by the financial authority and applies several methodologies widely accepted by academics and practitioners to assess credit risk of the whole sector, namely a production of financial ratios, analysis of the financial statements, Beaver//////s model, Bathory model, Z-Score, Springate analysis, Logit analysis and H-Factor model. It finds that risk in the industry compares favourably to returns, so highlighting the existence of a market anomaly. Indeed, Peruvian Saving and Credit Cooperatives offer up to two-digit passive interest rates to depositors while the corresponding risk has been computed in this paper as being comparably low. The cooperatives do not display risk of bankrupt under any of the tools used for carrying out the analysis.
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Revesco. Revista de Estudios Cooperativos
ISSN: 1885-8031
Dirección de correo electrónico:

Creado por Maranú - 2006
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