LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Accion Exits Banco Compartir

19 December 2019

Credicorp acquired Banco Compartir, a Colombian microfinance institution, providing an exit to Accion. 

(Press Release) Global nonprofit Accion announced today its successful exit from Banco Compartir (“Bancompartir”), one of Colombia’s largest microfinance institutions. Through multiple strategic investments, governance guidance, and advisory services, Accion’s support has helped Bancompartir provide financial services to more than 450,000 savings clients and over 100,000 borrowers. The exit comes upon Bancompartir’s recent acquisition by Credicorp Ltd., a leading Latin American financial services holding company with operations in Peru, Colombia, Chile and Bolivia.

The relationship between Accion and Bancompartir began over three decades ago, when Accion partnered with a local community savings group to establish a microcredit foundation. Bancompartir eventually became a regulated microfinance institution and then a fully regulated bank, and in the last 20 years it has substantially grown its client base. Today, it manages a loan and deposit portfolio of over $230 million, and is a pillar of Colombia’s financial sector.

Bancompartir has its roots in an organization formed for collective savings and lending to help survivors of a deadly volcano eruption in the Colombian Andes in 1985. In 1988, Accion began working with the group to launch microcredit operations in Bogota, and has continued to work closely with Bancompartir in the years since, providing investments, governance, and strategic advisory services in multiple areas, including product innovation and its transformation into a fully regulated bank.

Accion’s President and CEO Michael Schlein said, “At a time when Latin America’s microfinance market was just beginning to take shape, Accion recognized the potential of the organization now known as Bancompartir, and they have more than fulfilled that promise – today providing vital financial services to hundreds of thousands of families and entrepreneurs across Colombia. I’m very proud of what we and Bancompartir achieved together over the last 30 years and congratulate them as they begin their next chapter.”

Diego Guzmán, Senior Vice President and Chief Relationship Officer Latin America for Accion, said, “We are confident that with the resources and dynamism of its new partners, Bancompartir will build on its success and blaze new trails in serving the financially excluded in Colombia, setting an example for the microfinance industry throughout Latin America and beyond.”

“For almost 30 years, Accion has supported Bancompartir’s strategic objectives with strong commitment and professionalism. Accion gave us their trust since we were a nonprofit organization and has been a key contributor to the successful path towards becoming part of the largest microfinance group in Latam, Credicorp. We want to thank Accion and all the professionals who supported us throughout all these years,” said Gregorio Mejía, President of Bancompartir.

Accion Exits Banco Compartir was last modified: January 20th, 2020 by Editor
AccionBanco CompartirColombiaCredicorp Ltd.DealsDiego GuzmánExitsGregorio MejíaMichael SchleinMicrofinance
0
Facebook Twitter Google +

Categories

  • Deals
  • Exits
  • Regulatory
  • M&A
  • New Funds & Firms
  • Partnerships

Sign up for LAVCA’s bi-weekly Latin American Private Capital Update and the LatAm Venture Bulletin, produced specifically for venture investors, entrepreneurs, and technology startups in the early stage ecosystem.






Which LAVCA Newsletter would you like to receive?

Tweets

  • Congratulations to all the winners of the 9th annual LAVCA ESG Deal Awards! Learn more about the winners here:… https://t.co/VSLSO2QDkU

    25-May-2023

    Reply Retweet Favorite
  • Join us at 10 am ET for LAVCA's 9th annual ESG Deal Awards! Join here: https://t.co/idTeK2S6lK #investors #LatAm… https://t.co/bbCEAOfjtd

    25-May-2023

    Reply Retweet Favorite
  • Nicolas Szekasy and Francisco Alvarez-Demalde of LAVCA Member firms @KaszekVentures & Riverwood Capital shared thei… https://t.co/GtxubjgCYD

    22-May-2023

    Reply Retweet Favorite
  • The 9th Annual LAVCA ESG Deal Awards will take place next Thursday, 25 May 2023 at 10 am ET on LinkedIn. LAVCA Mem… https://t.co/NpRQSoZgkJ

    18-May-2023

    Reply Retweet Favorite
  • Join us for "Increasing Participation of Women in Private Capital", the next module in the Inside Private Capital e… https://t.co/eQm8BFtlFg

    16-May-2023

    Reply Retweet Favorite

Keep in touch

Twitter Linkedin Youtube

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

LAVCA Office

    New York City:
    589 8th Ave, 18th Floor
    New York, NY 10018

Explore LAVCA.org

  • About LAVCA
  • Board, Team, & Advisors
  • Media
  • Contact Us
  • Membership Benefits
  • Members Only Access
  • Education and Programs
  • Research
  • Policy
  • LAVCA VC
  • Contact Us

@2020 - LAVCA. All Rights Reserved.


Back To Top