Profundidad de alcance en un contexto de comercialización de las microfinanzas en el Perú

This paper seeks to answer the question of what factors are conducive to depth of outreach or the attention of customers with lower incomes, by comercial microfinance institutions (MFIs) in Perú, in order to propose measures aimed to a greater financial inclusion to the microenterprise sector. Using a panel database containing information of the MFIs regulated by the Superintendencia de Banca, Seguros y AFP, and a regression on panel corrected standard errors, the study finds that depth of outreach would benefit from lower administrative costs per borrower, the specialization of MFI loans to microentrepreneurs and higher interest rates, the first two variables being those proposed by the present investigation. Also the trade-off between the depth and profitability of MFIs, discussed widely in the literature on the subject would also be present in commercial MFIs. Additionally, institutions like Edpymes would have the greatest potential for further deepening.