Oikocredit, a cooperative based in the Netherlands, recently sold its stake in Financiera Confianza, a Peruvian microfinance institution (MFI), to Fundacion BBVA MicroFinanzas, which was launched by Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) in 1998. The size and price of the stake, which Oikocredit assembled in multiple purchases since 2005, remain confidential.
Oikocredit Investment Analyst Sébastien Rigaud stated that “Selling Oikocredit’s shares to BBVA Foundation ensures that Financiera Confianza’s social mission will remain at its core.”
Founded in 1998, Confianza provides microcredit and deposit services to 470,000 clients via 150 branches, with a focus on rural areas of central Peru. It has a loan portfolio of USD 458 million as of 2017. Fundacion BBVA MicroFinanzas, which was already a shareholder in Confianza, holds stakes in six MFIs in Chile, Colombia, Panama and Peru. As of 2017, BBVA has EUR 702 billion (USD 820 billion) in total assets and 71 million customers in 30 countries.
As of 2017, Oikocredit has EUR 972 million (USD 1.14 billion) in capital invested in 800 partners in 70 countries.
Sources and Additional Resources
Fundacion BBVA MicroFinanzas
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