Colombia: 8.7M exit financial system over non-compliance; rebanking strategy underway

Asobancaria reports over 8.7 million Colombians have left the formal financial system due to financial non-compliance, a significant erosion of financial inclusion. The banking association is promoting a Rebanking Strategy to address credit informality, but the scale of exclusion suggests structural credit-access challenges. This matters for Colombia's financial stability and consumer credit markets.