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Yes! I want to support microfinance and empower people to work their way out of poverty.
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BancoSol
General Manager: Kurt Koenigsfest
Active Borrowers: 135,314
Active Portfolio: $377,669,000
Average First Loan: $2,791
Portfolio at Risk > 30 Days: 1.29%
Savers: 270,323
Savings Balance: $365,214,000
Statistics as of May 2010
Mission: BancoSol is dedicated to meeting the financial needs of Bolivia's microentrepreneurs and small business owners. It aims to make a significant social and economic impact in the country's urban centers.
History: BancoSol's roots date back to 1986, when ACCION and Bolivian business leaders established a nonprofit microlending entity called PRODEM. By 1988, PRODEM had grown so large that it was outstripping the capacity of the local banking system to supply it with lending capital. In 1992, PRODEM joined with ACCION International, Calmeadow Foundation, Bolivian banks and other investors to establish BancoSol, the first private commercial bank in the world dedicated exclusively to microenterprise.
In 1997, BancoSol became the first microfinance institution in history to issue dividends to shareholders. The bank declared cash dividends of $162,857 or $0.45 per share on 1996 earnings of $1.1 million.
ACCION's Role: Since helping to start BancoSol, ACCION International has supported BancoSol in developing new services, expanding programs and attracting new investment. BancoSol continues to make history in the microfinance industry, disbursing over $1 billion in operations and support of microcredit since its inception in 1992. With the help of ACCION International, BancoSol is implementing several complementary products, including Credit Scoring and PortaCreditTM. It is also supporting the standardization and improvement of credit management. We have recently launched the pilot of a re-engineered underwriting process, testing the efficiency and practicality of a more precise division of labor among the field staff. The pilot incorporates the use of “netbooks” with Customer Retention Management software, allowing field staff to conduct online consultations related to client evaluation directly from the field. These projects will allow the bank to operate more efficiently, provide better services for clients, and reach new markets.
Borrower Profile: Half of BancoSol's active clients are women and work as market vendors, seamstresses, bakers, candy makers and others. With first loans as low as $50, BancoSol effectively reaches the poorest of the economically active population.
Where They Work: BancoSol’s regional headquarters are located in La Paz, Santa Cruz, Cochabamba, El Alto, Oruro, Tarija, Potosí, and Sucre. There are 48 branches in urban centers and secondary cities throughout Bolivia.
Program Growth:
|
Year |
Active
Portfolio |
Amount
Loaned |
Active
Borrowers |
Average
Loan
Balance |
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2002 |
$80,917,000 |
$64,761,000 |
42,290 |
$1,913 |
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2003 |
$91,175,000 |
$73,476,000 |
42,831 |
$2,129 |
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2004 |
$108,559,700 |
$90,440,669 |
51,996 |
$2,088 |
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2005 |
$130,106,032 |
$105,458,111 |
61,707 |
$2,108 |
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2006 |
$164,155,000 |
$134,418,000 |
75,289 |
$2,180 |
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2007 |
$208,959,000 |
$176,936,309 |
82,051 |
$2,547 |
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2008 |
$296,325,000 |
$256,522,000 |
109,763 |
$2,700 |
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2009 |
$351,824,000 |
$292,624,000 |
129,705 |
$2,712 |
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2010 |
$377,669,000 |
$142,292,000 |
135,314 |
$2,791 |
Contact Information:
BancoSol
Calle Nicolás Acosta no. 289
Esq. Calle Cañada Strongest, Plaza San Pedro
La Paz, BOLIVIA
Tel: (5912) 2484-242, 486-485
Fax: (5912) 2486-533
Email: info@bancosol.com.bo
|  | “Back then, it was hard to build my business,” she remembers. “And there was no one who would lend to me.” With loans from ACCION's partner BancoSol, “All three of my children finished school,” she beams.
Fortunata Maria de Aliaga
Client of ACCION partner BancoSol in La Paz, Bolivia
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