The new standardised financial information file (FECU) for small- and medium-size enterprises (SMEs) will strengthen competition and benefit small companies more than medium-sized firms, according to a local analyst.
The information file seeks to homogenise financial information on SMEs so as to standardise the information available to financial institutions in order to facilitate the gauging of credit risk.
"The FECU should have a substantial effect on facilitating lending to small companies, in particular, because at this time their financial information is often not available or incomplete," the analyst added.
It will take some time for the benefits to go into action, however, as the FECU was only signed by the banking association and regulator and has not yet gone into effect, according to the analyst. Up to 30,000 SMEs should benefit from the information file, which will be available after October 1 and will be accessible by Internet.
