Among the types of financial institutions that operate in Peru, there are municipal savings banks and rural savings banks. If you have wondered which dissimilar ones are both, in this article we indicate the differences between municipal and rural savings banks.

What is a municipal box?

What is a municipal box?

The municipal savings banks are financial institutions, focused on the attention of sectors of the urban population traditionally not assisted by formal banking. Its main products are loans aimed at microentrepreneurs, in order to underpin the growth of their small businesses.

These institutions are regulated by the Superintendence of Banking and Insurance (SBS) and are associated with the Deposit Insurance Fund (FSD). They are characterized because they are partially or totally owned by the provincial municipalities, although they act autonomously.

What is a rural box?

What is a rural box?

Rural savings banks are financial institutions, focused on the attention of sectors of the rural population, traditionally neglected by formal banking. Its main products are credits aimed at agricultural producers and entrepreneurs, and savings instruments.

As in the previous case, these institutions are regulated by the Superintendence of Banking and Insurance. Its capital is entirely private, so its operation is very similar to that of a small bank.

How are municipal boxes different from rural boxes?

How are municipal boxes different from rural boxes?

  • In the ownership of municipal funds there is participation of the public sector, through the municipalities. In contrast, rural savings banks are fully private participation.
  • The operation of the municipal savings banks is supervised by the Comptroller General of the Republic, the rural savings banks are not supervised by said agency.
  • The products of the municipal savings banks are aimed at microentrepreneurs, while those of the rural savings banks, small agricultural and livestock producers.
  • If you have wondered which dissimilar ones are both, in this article we indicate the differences between municipal and rural savings banks.