Compartamos Banco


Compartamos Banco

From Wikipedia, the free encyclopedia
Compartamos, S.A.B de C.V.
Sociedad Anónima Bursátil de Capital Variable
Industry Banking
Founded 1990
Headquarters Mexico City, Mexico
Key people
Carlos Labarthe Costas,(Chairman)
Fernando Álvarez Toca, (CEO)
Products Financial services
Revenue Increase US$ 33.5 million (2012)
Increase US$ 154.2 million (2012)
Total assets Increase US$ 1.7 billion (2012)
Number of employees

Compartamos Banco is a Mexican bank and the largest microfinance bank in Latin America, serving more than 2.5 million clients. The bank was founded in 1990 and is headquartered in Mexico City.

The bank is engaged in the credit and insurance sectors. In the Credit division, Compartamos offers a range of loans, including Woman Credit, Additional Credit, Home Improvement Credit, Solidarity Credit and Individual Credit, and in the Insurance division it provides Life Insurance and Integral Insurance. The company has 352 service offices in the Mexican domestic market.

Founded by Jose Ignacio Avalos Hernandez as an NGO in 1990, Compartamos aimed to alleviate poverty by providing microcreditto small businesses, initially by offering loans to women at the base of the economic pyramid.[1]

In order to grow the fund, it was decided to incorporate as a for-profit company in 2000, and a commercial banking license was obtained in 2006 [2]

In 2007 Compartamos controversially raised $467 million from the issue of an IPO,[2] earning large returns for private investors as well as philanthropic backers such as ACCION International and the World Bank without raising any additional capital.[3] In 2011, the group expanded operations to Guatemala and acquired Financiero Crear in Peru.[1]

Compartamos attracted fierce criticisms in the wake of the IPO for enriching wealthy private investors with returns on equity of 53% generated from charging interest rates in excess of 100% from those in poverty.[2][4]

Microfinance pioneer Muhammad Yunus described Compartamos’s priorities as “screwed up” and suggested they should not be compared with the microcredit projects he had championed.[4]

The Consultative Group to Assist the Poor, a World Bank affiliate that provided some of the early funding for Compartamos, argued that the IPO was the consequence of a justifiable earlier decision to take private investment to expand their capacity to offer loans, but expressed concern Compartamos may be placing shareholders’ interests ahead of their clients.[3]


About arnulfo

veterano del ciberespacio
This entry was posted in Economy and tagged , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s