Dutch social impact investor Oikocredit has exited Peruvian microfinance institution Financiera Confianza with sale to BBVA Foundation for an undisclosed amount.
(Press Release) Social impact investor Oikocredit has exited Peruvian microfinance institution Financiera Confianza for an undisclosed amount.
23 October 2017, Amersfoort, the Netherlands – Dutch headquartered social investor Oikocredit has exited its investment in Financiera Confianza, one of Peru’s largest microfinance institutions (MFIs).
The successful transaction saw BBVA Foundation acquire Oikocredit’s stake in the MFI.
Oikocredit first invested in Financiera Confianza in 2005 and further capital increases followed. The social investor has supported Financiera Confianza’s expansion to almost 500,000 clients, with the MFI offering loans and savings via one of the largest rural and urban networks in Peru. Oikocredit has also helped strengthen Financiera Confianza’s commitment to its social mission.
Sébastien Rigaud, responsible for the investment, said: “Selling Oikocredit’s shares to BBVA Foundation ensures that Financiera Confianza’s social mission will remain at its core. The financial return we generated will be used to support Oikocredit in delivering on its vision and mission.”
Oikocredit has over 40 years’ experience funding organisations active in inclusive finance, agriculture and renewable energy. Oikocredit’s loans, investments and capacity building aim to enable people living on low incomes to sustainably improve their living standards. Oikocredit finances around 800 partners in 70 countries, with total outstanding capital of
€ 971.5 million.
BBVA Foundation carries out the corporate social responsibility activities of Spanish banking group BBVA.