MICROCAPITAL BRIEF: Colombia’s FM Bucaramanga, Ecuador’s Produbanco Borrow $12m for SMEs via Symbiotics’ Bond Platform

Switzerland-based Symbiotics SA, which specializes in micro-, small and medium-sized enterprise investment, recently issued bonds for two South American financial institutions: COP 33 billion (USD 10 million) for Colombia’s Fundación Mundial de la Mujer Bucaramanga (FMMB) and USD 2.25 million for Produbanco of Ecuador. The latter was the second of two tranches this year totaling USD 13.75 million for Produbanco, a unit of Grupo Promerica, which was founded in Nicaragua and now serves nine countries in Latin America and the Caribbean. All of these transactions were intermediated through Symbiotics’ bond platform “Micro, Small & Medium Enterprises Bonds SA, Luxembourg.”

As of 2016, FMMB reports assets of COP 689 billion (USD 207 million) and serves 317,000 clients, of whom two thirds are women.

Panama-based Grupo Promerica reports total assets of USD 10.8 billion, deposits of USD 8.7 billion and net loans of USD 6.6 billion as of 2015.

Symbiotics manages assets valued at USD 1.3 billion.

By the MicroCapital Team

Sources and Additional Resources

Information provided directly to MicroCapital by Symbiotics

Fundación Mundial de la Mujer Bucaramanga
https://www.fundaciondelamujer.com/

Grupo Promerica
https://www.grupopromerica.com/

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