Microscopio Financiero

Un Análisis del Índice Herfindahl-Hirschman en sistema bancario dominicano

Por:

Cesar Cespedes

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La concentración de mercado es un indicador importante para evaluar la competitividad de un sector. Un mercado concentrado es aquel en el que unas pocas empresas dominan el mercado, mientras que un mercado competitivo es aquel en el que hay muchas empresas de tamaño similar.

En este artículo, analizaremos la concentración del mercado financiero dominicano. En 2023, el sector contaba con 44 instituciones reguladas por la Superintendencia de Bancos, con un total de activos de RD$ 3,350 billones. Los ocho bancos más grandes representan el 88% de los activos totales, y las tres instituciones más grandes representan el 71%.

Gráfico 1.  Tamaño de activos de las entidades de intermediación financiera en República  Dominicana

Fuente: Sistema de información de mercado bancario dominicano, SB, Septiembre 2023.

Utilizando el índice de Herfindahl-Hirschman (HHI), podemos medir la concentración del mercado. Un HHI de menos de1500 indica un mercado competitivo, un HHI de 1500 a 2500 indica un mercado moderadamente concentrado, y un HHI de 2500 o más indica un mercado altamente concentrado.

En el caso del sector financiero dominicano, el HHI es de 1940. Esto indica que el mercado está moderadamente concentrado, pero no llega al nivel de un mercado altamente concentrado. Esta cifra es significativamente mayor que el valor de 1,500 registrado en 2012, que señalaba un mercado competitivo en ese momento.

Dos   factores han influido de manera significatica en este cambio, el crecimiento de Banreservas y la fusión entre el Banco BHD y el Banco León. El Banreservas en la actualidad, es prácticamente del tamaño del sector completo en el 2012. El peso en el HHI pasó de un 50% en el 2012 a un 61% en la actualidad.

Aparentemente el HHI en el sector va a subir debido a que es muy probable que se tengan fusiones o salidas en el futuro de las entidades más vulnerables o pequeñas, debido al panorama que enfrentan de competencia y de costes y cargas de índole regulatorio. Una concentración excesiva en el sector bancario podría afectar la competencia de forma negativa y, en última instancia, la oferta de servicios y productos para los usuarios

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  1. Saludos ,Me parece interesante, tengo varias preguntas .
    Cuáles son los beneficios y riesgos de que el mercado se mueva a niveles mayores con más fusiones.?

    Cuáles deben ser las aspiraciones o son las condiciones ideales del mercado dominicano frente a la comunidad internacional en función de tener más oportunidades para el país.?

    Cómo estás variable HHI en sentido practico afectan la economía de otros sectores y al final la del ciudadano de a pie ?

    Gracias por su átencion

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  2. Excelente articulo. Asi necesitamos mas analisis que vean el mercado bajo criterios diferetentes a lo que normal y rutinariamente son vistos por los economista del pais.

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