A Sustentabilidade Financeira e a Gestão do Risco de Crédito no Microcrédito

Sustentabilidade Financeira e a Gestão do Risco de Crédito no Microcrédito

MESTRADO EM FINANÇAS
DISSERTAÇÃO

A Sustentabilidade Financeira e a Gestão do
Risco de Crédito no Microcrédito
O Scoring como uma alternativa com valor para a gestão do risco de crédito: uma experiência para Portugal

Aluno: Francisco Leal Gonçalves Barbosa da Silva
Orientador: Susana Maria Gonçalves dos Santos

Setembro 2011

Instituto Superior de Economia e Gestão
Universidade Técnica de Lisboa

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A Sustentabilidade Financeira e a Gestão do Risco de Crédito no Microcrédito

Abstract
Microcredit has been a growing phenomenon throughout the world since its early stages in India and Bangladesh in the 70’s. It has proved itself as an effective way to fight poverty and social exclusion. However, its merits have been somehow overstated at the cost of efficiency and financial sustainability. We suggest that financial sustainability is a sine qua non condition to foster the ability of microcredit institutions to serve more and poorer populations. Given its impact on financial sustainability, credit risk management is a key driver in defining the success of a microcredit institution. As so, there are some interesting mechanisms, some of which are quite innovative, that microcredit institutions have found to deal with credit risk. One of them, already in massive use in conventional credit, is Scoring. We believe that the use of Scoring in
Microcredit, even considering its costs and assumptions, can be an important step for the industry moving forward, as it enables a more accurate and efficient credit risk management and, by that, contributes decisively to a more sustainable business model.
Keywords: Microcredit, Credit Scoring, Financial Sustainability, Credit Risk
Management
JEL Classification: G11, G21, G32

Instituto Superior de Economia e Gestão
Universidade Técnica de Lisboa

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A Sustentabilidade Financeira e a Gestão do Risco de Crédito no