The Microfinance Control Authority (ACM) announced on Monday that it has instructed two microfinance companies to reduce their annual nominal interest rates by 3.5 and 3.25 percentage points, following supervisory missions that revealed what were deemed excessive pricing practices.
According to the ACM, this decision stems from the findings of its two most recent document-based audits, conducted as part of its mandate to oversee the sector.
The inspections revealed that the institutions in question incurred charges disproportionate to the services provided, particularly for technical assistance fees, administrative expenses, and high salaries for top executives, resulting in interest rates the ACM classified as “too high” and “unfair.”
The Authority emphasized that the imposed reduction is not arbitrary: it is based on a thorough analysis of cost structures and pricing practices of the two institutions.
The cuts were calculated from an objective estimate of the excessive charges, converted into percentage points to be deducted from the rates previously applied.
The ACM also reminded that it monitors pricing conditions in the microfinance sector continuously, in accordance with current legislation, through both document-based and on-site audits to ensure transparency and client protection.
