Triodos Microfinance Fund and Triodos Fair Share Fund, both managed by Triodos Investment Management, have taken a combined 12% stake in BancoSol, one of the two largest microfinance banks in Bolivia. Triodos Investment Management will play an active role at board level.
Remko Komijn, Senior Equity Investment Officer at Triodos Investment Management: ‘This is an exciting new equity investment in Latin America. BancoSol stands out as an internationally recognised example in providing microfinance services. We are very much looking forward to being part of BancoSol’s continuing journey to expand its outreach, to share our sustainable banking knowledge and expertise and to participate in BancoSol’s governance and strategic development.’
Other new shareholders are Dutch development bank FMO, the Swiss Group ResponsAbility Investments AG and ResponsAbility Management Company SA, member of the Credit Suisse International Group, and Women’s World Banking Capital Partners.
General Manager of BancoSol, Kurt Koenigsfest: ‘The incorporation of these new shareholders represents the beginning of a new era for BancoSol, confirming our mission to provide opportunities for low-income sectors while at the same time strengthening our goal to generate opportunities to encourage the inclusion of sectors which have no access to financial services.’ Read the full interview with Kurt Koenigsfest .
About BancoSol
Banco Solidario S.A. (BancoSol) is one of the two largest microfinance institutions in Bolivia and has grown to be one of the top microfinance banks in Latin America over the past 20 years. The institutions started operations as an NGO in 1986, and became the first Bolivian commercial bank specialised in microfinance in 1992. BancoSol offers loan products, savings products, payment services and remittances, and micro insurance, through its 104 branches, 120 points of sale, 6 mobile branches and 197 ATMs. As of year-end 2015 the bank had a gross loan portfolio of USD 1,172 million, 251,512 borrowers and 543,858 savings clients.