General Manager: Ing. Ariel Sanmartín
Active Borrowers: 4,662
Active Portfolio: $18,418,000
Average Loan: $3,951
Portfolio at Risk > 30 Days: 10.22%
Savers: 13,181
Savings Balance: $63,539,000
*Statistics as of May 2010 for microfinance business only
Mission: The mission of Banco Delta (BanDelta) is to reach the greatest number of Panama’s microentrepreneurs and to provide them with their first and best option for all their financial needs. By employing creative and innovative approaches to microfinance products and services, BanDelta excels in customer service and has earned much customer loyalty. BanDelta also lends economic and social guidance to its customers so that they can effectively grow their enterprises.
BanDelta has compiled a team that is motivated, committed and goal-oriented. The bank is committed to delivering profitable returns to shareholders and moving Panama’s microfinance industry forward.
History: Grupo Financiero Delta, Corp. (Delta), formed in 1972 in Nicaragua, has more than 30 years of experience in providing financial products and services. Historically, its core business has been providing financing for vehicles, technical equipment and heavy machinery, for both personal use as well as income-generating activities.
In 1996, in conjunction with Panama’s economic growth, Delta expanded to Central America and created Financiera Delta, S.A. in Nicaragua. In 2002, Delta sold its stake in Financiera Delta, S.A.Nicaragua and reallocated its resources, reinforcing the financial strength of its operations in Panama. The acquisition of Capital Leasing & Finance in 2004 contributed to an increase in Delta’s net portfolio size of approximately USD 5.8MM. Then, on July 3rd, 2006Grupo Financiero Delta obtained a license from Banco de Microfinanzas of the Superintendency of Banks in Panama and officially became Banco Delta, S.A.
ACCION began working with BanDelta in 2007 to facilitate the bank’s roll-out of its new microfinance operations. The bank has committed its management team as well as almost 100 employees to the development of financial services for micro- and small-enterprises.
ACCION’s Role: An ACCION resident advisor is currently working with BanDelta to help them incorporate their microfinance operations into the bank’s mainstream culture and operations. ACCION brings decades of experience in helping commercial banks commence successful microfinance programs to the partnership.
Borrower Profile: Banco Delta’s microfinance customers consist primarily of microentrepreneurs dedicated to commercial and service industry activities. They reside in low-income communities and rely on their microenterprises as their primary source of income.
What’s New: Banco Delta has expediently launched microfinance operations, created an impressive credit portfolio as well as savings and insurance products. The bank’s medium-term microfinance goals include the addition of new technology implementations and home-improvement products.
Where They Work: Currently, BanDelta’s microfinance operations are concentrated in the provinces of Panamá, Chiriquí and Coclé. In the short-term, the bank expects to expand its coverage to the Panama’s central provinces.
Program Growth:
|
Year |
Active
Portfolio |
Amount
Loaned |
Active
Borrowers |
Average
Loan
Balance |
|
2007 |
$1,247,400 |
$1,578,263 |
1,005 |
$1,241 |
|
2008 |
$6,500,000 |
$6,145,000 |
3,527 |
$1,843 |
|
2009 |
$16,660,000 |
$12,339,000 |
4,761 |
$3,499 |
|
2010 |
$18,418,000 |
$4,040,000 |
4,662 |
$3,951 |
Contact Information:
Headquarters:
Vía España, Torre Delta (Antiguo Edificio Bank Boston)
Planta Baja
Panama City, Panama0816-07831
Tel: 3400000 x815
Fax: 3400100
Email: asanmartin@bandelta.com / rtorres@bandelta.com
Website:www.bandelta.com