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Yes! I want to support microfinance and empower people to work their way out of poverty.
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Compartamos Banco
CEO: Carlos Labarthe
Co-CEO: Carlos Danel
Active Borrowers: 1,546,059
Active Portfolio: $685,611,000
Average Loan Balance: $443
Portfolio at Risk > 90 Days: 2.40%
Savers: n/a
Savings Balance: n/a
Statistics as of May 2010
Mission: We are a bank that generates social, economic and human value. We are committed with the individual, we generate development opportunities in popular sectors; these opportunities are based in innovative and efficient large scale models and in transcendental values that create both external and internal culture, developing permanent trust worthy relationships and contributing to the creation of a better world.
History: In Mexico, as in the rest of Latin America, the huge growth of the population has exceeded the capability of companies to offer jobs; therefore, people have tried to perform productive activities, known as micro-business, to have an income. In 1990, Compartamos was founded within this context, thus providing opportunities and offering credit as a means to make micro businesses grow and to contribute with Mexico’s development. Through its history, Compartamos has obtained results with a clear trend aimed to sustainable growth, the quality of its assets, and profitability. On June 1st, 2006, Compartamos Banco was authorized by the Mexican government to operate as a bank, “Banco Compartamos, S.A., Institución de Banca Múltiple”.
Compartamos is a company governed by the Comisión Nacional Bancaria y de Valores, Secretaría de Hacienda y Crédito Público, and Banco de México. Its credit quality has been rated by Standard & Poor’s and by Fitch; which has allowed Compartamos to enter the market by issuing bonds. Thus, it is the first microfinance company in the world to issue debt on the stock market with its own collateral, and become a financial intermediate between large investors and low- income groups. The success of Compartamos’ public offering of 30% of its equity is the result of more than 17 years of hard work and innovation.
For a comprehensive analysis of the Compartamos IPO, download the June 2007 copy of the ACCION publication Insight.
Today, Banco Compartamos is the largest microfinance bank in the Western hemisphere, serving over one million clients.
ACCION's Role: ACCION has brought its experience in urban microlending, process re-engineering, customer service and marketing to help Compartamos build upon its large rural client base and knowledge of the local market. ACCION has provided technical assistance in a variety of areas to help improve Compartamos’ operating efficiency, while enhancing and expanding its product offering. Currently, ACCION is helping Compartamos become a more full-service financial service provider by helping to develop and pilot new products. Specifically, ACCION has supported Compartamos in the development, implementation and monitoring of new financial services, including insurance and housing. In addition, ACCION has provided intensive technical assistance through a full-time resident advisor in Mexico to aid Compartamos in improving the efficiency and productivity of its urban lending products as well as of its individual and solidarity group credit programs. ACCION is also bringing technical expertise to its marketing area through its project on Client Retention.
ACCION has been instrumental in strengthening customer service and developing programs targeted at improving client satisfaction for Compartamos. Compartamos is in the process of transforming into a commercial bank, and is re-positioning itself in the marketplace. To this end, ACCION is assisting Compartamos in improving its client retention, advertising effectiveness and brand development to solidify its competitive positioning. In addition, ACCION is supporting Compartamos in the development of new delivery channels, including retail agents to increase customer convenience and access. Overall, ACCION’s support has focused on replicating the success Compartamos has achieved with its rural lending product in its urban finance program and new product offerings and delivery systems.
Borrower Profile: Compartamos works with enterprising and responsible people who seek to forge a better future for their family and who take advantage of credit as an opportunity to grow. Ninety eight percent of the Compartamos clients are women. The micro businesses that the clients run are small economic production, service, and trade units, which generally employ one or two members of the same family and, in many cases, are the family’s main income source. Compartamos, through its clients, serves different economic activities to allow for the spread of credit risk and some of the most important activities are: rural food trade, commodities and garments, handicrafts and hand made products, farming activities, and other services and trade activities.
What's New: Compartamos Banco recently completed a thorough strategic planning process that has resulted in an aggressive plan to diversify its portfolio and expand its product offerings. Among the products ACCION is helping Compartamos Banco to design and pilot is a life insurance product and home improvement loan. Compartamos Banco is expanding its service offering to include remittances and savings products, strengthening its channel network and investing in a new technological platform appropriate for its future business goals.
ACCION is also working with Compartamos Banco on several innovations, including microinsurance, risk management, marketing, financial education, new distribution channels and exploring alternatives for savings mobilization.
Where They Work: Compartamos has 314 service offices with presence in the whole country.
Program Growth:
|
Year |
Active
Portfolio |
Amount
Loaned |
Active
Borrowers |
Average
Loan Balance |
|
2002 |
$43,030,870 |
$179,124,272 |
144,991 |
$297 |
|
2003 |
$64,213,016 |
$285,256,214 |
215,267 |
$298 |
|
2004 |
$102,033,717 |
$457,529,651 |
309,637 |
$330 |
|
2005 |
$183,271,404 |
$795,799,010 |
453,131 |
$404 |
|
2006 |
$275,198,000 |
$1,190,122,000 |
616,528 |
$446 |
|
2007 |
$383,500,000 |
$1,687,600,000 |
838,754 |
$457 |
|
2008 |
$414,726,000 |
$1,459,217,000 |
1,155,850 |
$623 |
|
2009 |
$585,117,000 |
$2,432,309,000 |
1,503,006 |
$389 |
|
2010 |
$685,611,000 |
$760,709,000 |
1,546,059 |
$443 |
Regional Headquarters: Mexico City
Contact Information:
Av. Insurgentes Sur No. 553.
Primer Piso de Oficinas,
Col. Escandón
Delegación Miguel Hidalgo.
C.P. 11800
Cuidad de México, DF, MEXICO
Tel: (525) 5 276-7250
Fax: (525) 5 276-7299
Email: banco@compartamos.com
Website:www.compartamos.com
|  | "My mother worked in this plaza," recalls Doña Evangelina. "She always told me that it didn't matter how small or simple my stand was, as long as it was mine. I feel good about what I've achieved through this business.''
Evangelina Moreno Chavez
Client of ACCION partner Compartamos Banco in San Salvador Huixcolotla
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