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Haiti’s Banking Perception Survey Reveals Key Findings

A recent survey conducted in Haiti has shed light on the perception of banking activities by participants, revealing crucial insights into their views on the sector’s importance, management, and impact on the economy.

Key Findings

According to the study, a significant majority (84%) of respondents perceived the economic situation in Haiti as “very bad” or “bad”. Furthermore, 61% disagreed that banks have an appropriate management of natural resources and the environment, while 52% believed their companies are better off financially than the country.

Banking Role in Financial Resources

When it comes to the role of banks in facilitating financial resources for entrepreneurs and small-medium merchants, only 20% of respondents agreed that they contribute to this effort. However, a whopping 98% believe that banks play a crucial role in providing residences with low-interest rates.

Correlation Analysis

Correlation analysis revealed significant relationships between certain variables. For instance:

  • The perception of banking activities (FRE) was negatively correlated with the economic situation in Haiti (HEG).
  • The contribution to obtaining residences with low interest (RLI) was positively correlated with both FRE and customer satisfaction (CSFA).

Cooperative Financial Societies

The study also found that cooperative financial societies were seen as alternatives for obtaining needed financial resources, particularly for residences with lower interest rates. In fact, 70% of respondents believed that forms of cooperative financial societies can help obtain commercial funds better than private banking services.

Econometric Analysis

Using econometric analysis, the study formalized relationships between variables, revealing that:

  • FRE is positively correlated with RLI and CSFA.
  • CSFA was found to be negatively correlated with HES (economic situation in Haiti).
  • CICS (continuous increase in customer satisfaction) was positively correlated with both HES and RLI.

Conclusion

The findings of this survey provide valuable insights for policymakers, financial institutions, and businesses seeking to understand the perception of banking activities in Haiti. By addressing the concerns and needs of stakeholders, these entities can work towards improving the sector’s overall performance and contributing to the country’s economic growth.

Key Takeaways:

  • 84% of respondents perceived the economic situation in Haiti as “very bad” or “bad”.
  • 61% disagreed that banks have an appropriate management of natural resources and the environment.
  • 52% believed their companies are better off financially than the country.
  • Cooperative financial societies were seen as alternatives for obtaining needed financial resources, particularly for residences with lower interest rates.
  • FRE was positively correlated with RLI and CSFA.
  • CSFA was negatively correlated with HES (economic situation in Haiti).
  • CICS was positively correlated with both HES and RLI.