Financial inclusion - Special Financial Stability Reports - First Half 2021
The main purpose of these reports is to monitor the vulnerabilities and risks of the financial system. Opinions and potential errors are the sole responsibility of the authors, and their contents do not compromise the Board of Directors of Banco de la República (the Central Bank of Colombia).
The Financial Stability Special Reports accompany the publication of the Financial Stability Report and provide a more detailed analysis of some aspects and risks relevant to the stability of the Colombian financial system: market liquidity risk, market risk, credit risk, financial burden, loan portfolio, and housing market in Colombia, international indicators, concentration, and competition in the deposit and credit markets, corporate sector surveys, and financial inclusion.
Financial inclusion is the process of integrating financial services into the daily economic activities of the population, which can contribute to economic growth to the extent that it reduces financing and transaction costs and offers secure and efficient management of resources, both for households and companies. The measurement of financial inclusion encompasses different dimensions of access and use of financial products by households and companies, including coverage, transactionality, savings, credit, insurance, quality, and welfare.
This report presents a diagnosis of financial inclusion for both men and women in Colombia For this purpose, some variables related to financial inclusion reported in the Global Findex for Colombia and others reported in the DANE microbusiness survey are analyzed. Additionally, a comparison is made between the characteristics of loans granted by credit institutions to women and those granted to men between 2017 and 2021 using Format 341 of the Financial Superintendency of Colombia (SFC). This paper is the first to approach financial inclusion from a gender perspective, taking such administrative data into account.
