SMEs, micro firms make up 45% of total bank loans, says Asoban

- Wednesday, May 25, 2011

SMEs, micro firms make up 45% of total bank loans, says Asoban

Lending to Bolivian SMEs and micro firms now represents 45% of the banking sector's total loans, according to a report by local banking association Asoban.

At the end of March, loans granted to SMEs and micro firms amounted to US$2.49bn, or 1.8 times more than loans issued to large companies.

The high degree of SMEs and micro firms in the sector's loan book shows that Bolivia's bankers have made a special effort to ensure that these sectors of the economy have access to bank credit, said Marcelo Montero, Asoban's executive secretary.

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Montero added that the banking sector cannot continue support SMEs and micro firms alone, and called for the government to be more active in this process, by granting seed capital to new entrepreneurs.