The microfinance market fulfills the function of providing and allowing the participation of economic agents that do not have the necessary conditions to obtain financial instruments granted by conventional financial entities such as banks. In this way, microfinance institutions seek to satisfy these unmet needs by promoting opportunities such as lines of credit or deposits, with less restrictive requirements. Given this perspective, this thesis seeks to investigate and analyze the development and evolution of two pillars that frame the financial situation of a representative agent of this market, which is the Caja Municipal de Ahorro y Crédito de Arequipa. study variables to the total liabilities and the total equity of the same entity and will seek to study the behavior of the respective rates of return to said variables, taking as the study time frame the months that are between the ...