BCP resumes leadership in microcredit and generates optimism in the Peruvian economy.

September 8, 2023, has been marked as a key day in the financial landscape of Peru, as the Banco de Crédito del Perú (BCP) has regained its leadership in the microcredit sector through the acquisition of Financiera Edyficar. This transaction, anticipated by the media outlet GESTIÓN, represents a strategic move that allows BCP to increase its market share in microenterprise loans to 20.6%, surpassing Mibanco, which now holds second place with 17.7%. With this, Banco de Crédito consolidates itself as one of the most relevant entities for the growth of microenterprises in the country, reaching a total of 228,743 clients in this segment. This change in market leadership in microfinance is significant, especially considering that just a year ago, BCP had lost this position to Mibanco. The acquisition of Edyficar not only strengthens BCP's presence in the sector but also promises to impact interest rates offered to small and medium-sized enterprises (SMEs) in the coming months. According to specialists, consumers may notice a clearer reduction in interest rates in about six months, which could facilitate access to financing for many entrepreneurs. Despite the optimism generated by these changes in the financial sector, consumer perception presents a mixed picture. Recently, the consumer confidence index reached its highest level in a year, indicating a shift in the perception of the economy. While in April, 81% of respondents stated they had no intention of buying homes, that figure has fallen to 51% in September. This change reveals a greater openness to investment decisions, especially in Lima and the provinces, where confidence in the economy for the next 12 months has improved significantly. However, the duality in economic perception is evident. Despite the increase in confidence, 60% of Peruvians still believe the country is facing an economic crisis. This contradiction highlights concerns about economic stability and the labor market, with 28% of the population believing it is possible to save in the current context. The question many are asking is whether these improvements in confidence and access to credit will translate into a real increase in investment and consumption. In another area, the government continues with its initiative for automatic affiliation to the Oficina de Normalización Previsional (ONP). From the Ministry of Economy and Finance (MEF), it has been proposed that all citizens aged 18 and over who have not opted for any pension system be automatically affiliated. Although the proposal includes an option for "free mobility" between systems, the lack of a recognition bonus for those who choose to switch has been criticized, generating a debate on the benefits and disadvantages of this measure. The automatic affiliation proposal can be interpreted as an attempt by the government to increase coverage of the pension system, but it also faces criticism for lacking incentives for those already in other systems or who wish to opt for a different one. The absence of a recognition bonus may discourage some workers from affiliating with the ONP, creating more uncertainty on such a sensitive issue as retirement planning. Thus, while the financial sector appears to be in a phase of recovery and growth, the general perception of the economy and government decisions create an environment of uncertainty that could affect consumer behavior in the short term. The combination of an increased supply of microcredits with a climate of distrust could lead to cautious decisions by entrepreneurs and small business owners. In conclusion, September 8, 2023, represents both opportunities and challenges for the Peruvian economy. BCP's recovery in the microcredit sector is a positive sign, but the perception of crisis and uncertainty surrounding pension policies remind us that the path to a robust and reliable economy still has obstacles to overcome. It will be crucial to observe how these events unfold and what impact they will have on the well-being of Peruvians in the near future.