BANCO SOLIDARIO S.A. BANCOSOL
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco Solidario S.A. ("BancoSol") is the largest MFI in Bolivia and has grown to be one of the top microfinance banks in Latin America over the past 20 years. The bank has been a client of FMO since 1996 and FMO has provided several loans since then. In June 2015, FMO purchased 28% of the shares of BancoSol together with Triodos and Womens World Banking, whereby FMO's shareholding is 14%.
What is our funding objective?
Through this investment, FMO facilitates BancoSol's growth and enables the bank to provide financial services to it's 250,000 clients. Furthermore, FMO will support the management team in their quest to innovate in the way they reach out to clients, in order to become more efficient in a competitive market and challenging regulatory landscape. Our vision behind this to provide high quality financial services to the poor.
Why do we fund this investment?
The management of BancoSol has an impressive track record of growing the business in a sustainable manner while providing financial services to low-income individuals. It has a history of innovation and was the first bank in Bolivia to introduce eBanking, mobile branches, mini-agencies and many other developments. Other key shareholders in the bank are ACCION, Danish Microfinance Partners and Responsibility, which provides for a group of well-aligned and strong shareholders with a mission to support financial inclusion.
- Region
- Latin America & The Caribbean
- Country
- Bolivia
- Sector
- Financial Institutions
- Effective date
- 10/26/2017
- Total FMO financing
- USD 3.09 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B