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Local Project Partners
Cajas Municipales de Ahorro y Crédito (Sparkassen)
German Project Partners
1984 - 1996
Even before SBFIC was founded in 1992 there have been various activities of the German Sparkassen-Finanzgruppe supporting savings banks and similar organisations. These activities have been organised by one of the departments of the Deutscher Sparkassen- und Giroverband (German Savings Banks Association, DSGV).
As early as 1984 it became clear that only economically viable institutions, however with a social focus, would be able to serve the broad public and micro and small enterprises on a longer term basis. The model of the German Sparkassen (savings banks), i.e. strongly controlled public ownership combined with business activities limited to one region and retail banking operations (savings and loans) for broad strata of the population has successfully been adapted to Peruvian circumstances. The role of the DSGV (and later on SBFIC) was the elaboration of an all embarrassing concept to develop “cajas municipales” and to co-ordinate the ongoing project activities. The latter also included the foundation of an association of the Peruvian cajas.
During the course of the project 13 cajas have been founded, all of them outside Lima. Today the cajas are the most important providers of micro finance services in Peru, also with respect to profitability. As of June 30, 2005 the sector operates more than 160 branches, has accumulated 674 mn USD savings deposits that have been completely used for the extension of loans to micro enterprises (693 mn USD). During the last 20 years equity has been raised by retaining earnings in the overall amount of 151 mn USD.