A. M. 
61.4% of the population in El Salvador expresses confidence in banks, positioning them as the most credible financial institution in the country. This is according to the results of the Encuesta Nacional de Inclusión y Educación Financiera, conducted by the Banco Central de Reserva (BCR), which analyzes the population’s perception of and relationship with the formal financial system.
This level of trust places banks far above other financial institutions and confirms their central role within the national economic system. For most salvadorans, banks remain the primary point of access for managing their resources, conducting transactions, saving, and, to a lesser extent, accessing credit products.
AFP and cooperatives have intermediate levels of trust
After banks, Administradoras de Fondos de Pensiones (AFP) register a 36.1% trust rating, reflecting a moderate perception of their management of retirement savings. Although this percentage is considerably lower than that of banks, AFPs remain a relevant institution, especially among those contributing to their retirement.
In third place are cooperative banks, with 32.4%, a figure that demonstrates their importance in certain sectors of the population, particularly in communities where these types of entities have a greater presence and closer ties with their users.
Insurance companies and savings societies have less support
Insurance companies enjoy a 27.0% level of trust, while savings and loan associations register 25.1%. These results suggest that, although they are part of the financial ecosystem, they still face challenges in strengthening their image, expanding their reach, and generating greater credibility among the population.
In many cases, the lower level of trust may be related to less knowledge of their products, limited experience using them, or perceptions about costs, requirements, and benefits.
The stock market, the least known and trusted
The stock market ranks last, with only 8.9% trust, demonstrating a low level of familiarity and participation among the population in this type of financial instrument. This result reflects that stock market investment remains a distant topic for most Salvadorans, associated with complexity, lack of information, or perceived risk.
Trust as the foundation of financial inclusion
Data from the BCR confirms that trust is a key factor for financial inclusion. When people trust an institution, they are more likely to use its services, save formally, and better plan their finances. In this context, the banks’ leadership shows significant progress but also highlights the need to strengthen financial education and transparency throughout the system.
The survey reflects that, while there is a solid core of trust in traditional banking, there are still ample opportunities for other financial institutions to strengthen their credibility and contribute to a more diverse, accessible, and inclusive system for the Salvadoran population.
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