More than 60% of adult population has at least 1 financial product - association study

- Monday, May 16, 2011

More than 60% of adult population has at least 1 financial product - association study

The number of Colombians who are part of the financial system keeps advancing, and as of 2010, 62% of the adult population had at least one financial product, a new study from banking association Asobancaria shows.

This represents an increase of 10.7% when compared to 2009, and a 31.8% increase from 2006, when the association published its first report on financial inclusion.

The biggest expansion took place in the consumer loan segment, which saw a 13.3% increase to nearly 4.08mn transactions.

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The largest segment continues to be savings accounts, which had close to 17.5mn accounts at the end of 2010, up 11.5% on the previous year.

The number of credit cards saw an increase of 10.5% last year to 5.2mn, the study shows.

To read the full Asobancaria study in Spanish, go to this link