Banco Popular, BancoSol and Banco Nacional de Bolivia nominated for IADB’s Beyond Banking Awards

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For the 2014 Beyond Banking awards the microfinance institutions Banco Popular in Honduras and BancoSol in Bolivia, and the commercial bank Banco Nacional de Bolivia have been nominated. All three financial institutions have been supported by BIO over the last years.

The BeyondBanking awards are an initiative of the Inter-American Development Bank’s financial markets division, which contributes to the creation of solid, sustainable and responsible financial systems in Latin America and the Caribbean by combining capabilities and experience with tradition and innovation. The awards are aimed at promoting social sustainability, environmental and good governance practices between financial intermediaries in Latin America.

There are six categories; Banco Popular and BancoSol have both been nominated in the ConnectBanking category, for financial intermediaries utilizing new information and communication technologies. Banco Nacional de Bolivia has been nominated in the learnBanking category, for institutions fostering financial literacy. Public voting is open until the 2nd of March 2014, for more details on the awards, please visit IADB’s BeyondBanking page.

BIO has been shareholder since 2007 in Banco Popular, and also supported the bank with two technical assistance subsidies. BIO extended a USD 5 million loan to BancoSol in 2009; the loan was successfully reimbursed in June 2013. BIO’s USD 5 million loan, agreed in 2009, to Banco Nacional de Bolivia supports the efforts to further grow its SME business. Find out more on our website on BIO’s investments in Banco Popular; BancoSol and Banco Nacional de Bolivia.