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Challenges Of The Colombian Banking System In Order To Improve The Financial Deepening, Retos De La Banca Colombiana Para Mejorar La Profundizacion Financiera

Author

Listed:
  • Jose Rodrigo Catica Barbosa
  • Mercedes Parra Alviz
  • Oscar Hernan Lopez Montoya

Abstract

This article analyzes basic reasons why the Colombian banking system has not reached true levels of welfare for the population of the country. The paper also describes diverse challenges that Colombian banks face in order to improve their level of financial deepening. The main analysis is developed from banking statistics or financial infiltration in Colombia for 2010 and 2011. The primary objective of the study is to describe challenges that the Colombian banking system must face to improve the reach levels of banking services. The importance is evident in cost of services, poor image of the banking system, poor care and poor access to the banking services, complaints indicators and the description of several factors that limit the access of different products and services to the Colombian population. Banks continue to regard these concerns as mere myths.

Suggested Citation

  • Jose Rodrigo Catica Barbosa & Mercedes Parra Alviz & Oscar Hernan Lopez Montoya, 2014. "Challenges Of The Colombian Banking System In Order To Improve The Financial Deepening, Retos De La Banca Colombiana Para Mejorar La Profundizacion Financiera," Revista Internacional Administracion & Finanzas, The Institute for Business and Finance Research, vol. 7(4), pages 27-37.
    • Handle: RePEc:ibf:riafin:v:7:y:2014:i:4:p:27-37
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    More about this item

    Keywords

    Myths; Financial Deepening; Foreign Investment; Intermediation; Welfare;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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