BANCO SOLIDARIO S.A.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco Solidario (“Solidario”) is the second largest microfinance-oriented bank in Ecuador. Banco Solidario has Total Assets of USD 780 mln and is serving more than 286,000 credit clients.
What is our funding objective?
To contribute to Banco Solidario Capacity Development (CD) trajectory for serving women owned businesses in Ecuador and continue its support of micro entrepreneurs in the growth and formalization of their micro enterprises as well as to attend new clients in the SME segment.
Why do we fund this investment?
Banco Solidario would like to engage the advisory services of international consultants to support them with its SME strategy and in its gender finance journey and build its capacity for better serving the women’s market. The final aim is to grow the number of women and average loan size in the SME portfolio in a more sustainable, effective and efficient way.
More investments
| Date | Total FMO financing |
|---|---|
| 6/17/2021 | USD 20.00 MLN |
| 10/24/2024 | USD 10.00 MLN |
| 10/19/2024 | USD 20.00 MLN |
- Website customer/investment
- https://www.banco-solidario.com/
- Region
- Latin America & The Caribbean
- Country
- Ecuador
- Sector
- Financial Institutions
- Effective date
- 12/18/2019
- End date
- 10/13/2021
- Total FMO financing
- EUR 0.06 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C