Colombia 2018 | FINANCE | COLUMN

TBY talks to Hector Camargo, President, Coltefinanciera, on the sector.

Hector Camargo

What is the main focus of your business?

Today, the main focus is factoring and leasing. In Colombia, factoring is still a tiny business. People have problems planning cash flow and having money at an opportune moment in order to get discounts on pricing. When barriers in the economy are eliminated, more can be done for small industries. The interest rate has to represent risk and cost. There has to be an open market. There have been many efforts, and some institutions are doing a great job. If we want to have real economic development, then we have to support the SME sector.

What are your targets and goals for the coming year?

First, we want to maintain our satisfaction rate, which is 91%. We also have to maintain how people perceive us in terms of risk. The third is with regard to our portfolio. We have to give a respectable return on equity. That result comes from managing expenses and sales, the whole operational process. Every process that is not well placed is a constant increase. Therefore, our ongoing strategy is to maintain our cost efficiency.