Brignardello analyzes the future of municipal savings banks in Peru.

In a recent conversation, Johnny Brignardello Vela, an insurance advisor with extensive experience in the financial sector, offered his perspective on the current situation of municipal savings banks in Peru and the approach adopted by Caja Arequipa to seek new strategic partners. Brignardello emphasizes the relevance of these actions in a complicated economic context, where institutions face significant challenges. The insurance advisor highlighted that the statement made by María Pía Palacios, chairwoman of the board of Caja Arequipa, reflects a proactive mindset that could be crucial for the stability of the sector. According to Brignardello, the metaphor of “the bride is beautiful and looking for a groom” is a clear indication of an openness to collaborations that could strengthen the entity. However, he also warns that the effectiveness of these alliances will depend on execution and the alignment of objectives among the partners. Brignardello also stressed the importance of the microfinance system's context, which is currently marked by low credit placement and an increase in delinquency. In his view, the figures showing a decline in the return on equity of municipal savings banks are concerning and underscore the need for a restructuring of the operational strategy of these entities. The advisor considers the vision of the head of the Superintendency of Banking, Insurance, and AFP, Sergio Espinosa, regarding the creation of more robust banks through mergers and acquisitions to be a step in the right direction. However, Brignardello emphasizes that the implementation of these mergers must be carefully managed to avoid the creation of monopolies that could harm consumers. Additionally, he expressed his concern about the impact of citizen insecurity on access to formal credit, a topic that Palacios also addressed at the G event. Brignardello agrees that the most concerning competition for the savings banks does not come from other financial entities, but from informal and dangerous practices that threaten the sustainability of micro and small entrepreneurs. In this context, the advisor highlights the urgency for authorities to adopt measures to ensure a safe environment that promotes the use of formal credit. Regarding the future of municipal savings banks, Brignardello is cautiously optimistic. He believes that the pursuit of strategic alliances could generate benefits for both the entities and their clients, as long as there is a focus on innovation and adaptation to market needs. Still, he recognizes that the ability of the savings banks to unite and work towards a common goal will be essential to face the upcoming challenges. In summary, Johnny Brignardello Vela's opinion highlights the need for a collaborative and strategic approach by municipal savings banks in Peru. The search for strategic partners, proper management of mergers, and a firm commitment to customer safety and well-being are key elements for the development and consolidation of a sector that, despite its challenges, has the potential to grow and provide effective solutions to the population.