by Diana Yang - Latin America & Caribbean -

PRESS RELEASE: Nicaragua: Banex Gives More Opportunities

Source: Banex.

Banex (Success Bank) celebrated the start of its operations as a new bank on October 15. Banex’s Board of Directors presided over the inauguration ceremony. The bank starts operations with a 30 branches across Nicaragua. The inauguration ceremony took place at the Banex’s headquarters in Managua and simultaneously in all of its branches.

Banco del Exito (Banex) is the leader in the microfinance industry of the country. The inauguration ceremony began with Rita de Boer ‘s words of congratulations. Rita de Boer, in representation of Hivos Triodos Fund, emphasized that international financial organizations as Antares Fund, Developing World Markets, and Micro Vest, support Banex on its objectives to offer more and better financial services.

Rita de Boer said Banex has support equity from the International Finance Corporation (IFC) member of the World Bank group and the Finance for Development Bank (FMO). “As a bank, we will have more opportunities to give better financial services to micro-enterprise, small business and medium enterprise owners and their families. That means not just give loans, but also saving services, checking accounts, payment services, in a safer and efficient way”.

Alejando Silva, member of Banex’s Board of Directors, has more than 25 years of experience in banking and international microfinance organizations. Silva, who has been board member at many microfinance institutions in Haiti, Venezuela, Mexico, Colombia, Ecuador, Peru and Bolivia, said that for “international partners is a big satisfaction to get to the base of the pyramid, to the poor, which has been the key of success at Banex, formerly known as Findesa. We have proven that micro-enterprise and small business owners are good loans recipients, as a matter of fact they are the most responsible borrowers. Microfinance’s not just gives them the opportunity to improve their businesses, but also to innovate and succeed in adversity, they are the key to development in Nicaragua”, Silva said.

Gabriel Solórzano, Chairman of the Board, thanked Banex’s collaborators team.“In the past six years, since we put the first seed as a financial institutions regulated by the Bank Superintendence, we have been improving, looking for excellence, thanks to a successful team of more than 700 members and their families. This team works for our clients, to give them success. We wouldn’t be a bank today, if it wasn’t for this team. It has been a hard job, a very professional effort. Rarely financial institutions get to remote rural zones as La Dalia, El Tortuguero, El Rama, Siuna y Rosita, where we provide all our services in areas that you cannot travel by car”.

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