Estudio de la sostenibilidad financiera del sector cooperativo luego de crisis sanitaria de la COVID-19.

Abstract

The financial system constitutes a sector of strategic importance in the economy of a country because the process of financial intermediation takes place through the public and private institutions that comprise it. This paper deals with the analysis of the situation of financial sustainability and the possibility of bankruptcy of the five segments that make up the sector of savings and credit cooperatives (SACCO). It was found that the legal framework has arranged 5 classification segments, mainly due to the size of assets. At the date of this work, there are 457 SACCO, of which 59% belong to segments 4 and 5; however, more than 90% of total assets, portfolio and deposits are concentrated in segments 1 and 2. Using Altman's ZScore model, it has been found that segments 1 to 3 are in the zone of possible signs of insolvency while that 4 and 5 have a higher probability of bankruptcy. The averages returned by the Altman ZScore model during the six years of study were: 1.27, 1.52, 1.34, 0.68 and 0.71; for segments 1, 2, 3, 4 and 5, respectively. However, it is suggested to develop case studies individually by institution or group of institutions in segments 4 and 5, which is where the greatest possibility of insolvency is detected.