Banco Popular
Banco Popular is a Bank specialized in micro and small businesses in Honduras.
Amount
€ 1,357,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Financial inclusion
Beneficiary locations
Investment field
Financial Institutions
Activity
Microfinance institution
The purpose of the investment is to provide funding in the form of equity in order to assist the savings and loans association Popular in its transformation to a commercial bank, as well as to expand its micro lending operations. The institution will become the first microfinance bank in Honduras (headquarter in Tegucigalpa, 21 branches).
Popular was created in late 2004 when Fundación Covelo purchased the dormant savings and loans institution called Metropolitana S.A. from Banco Continental S.A. (95% of the shares). Fundación Covelo is a well known Honduran organisation devoted – since 1991 – to supporting the development of microfinance in the country through lending and technical assistance activities.
Development impacts
-
Local economic growth
Credit provision to MSMEs; Mobilization of local savings
-
Financial inclusion
Access to financial services for individuals and micro-enterprises. Popular’s principal products are: (i) Credit products: working capital loans, home improvements, fixed assets loans, seasonal loans, credit cards for both micro and SME clients, and remittances; and (ii) Savings and deposits specially targeted to micro clients.
Read impact and news about this project
News
BIO raises its stake in Banco Popular
27-10-2022
BIO raises its stake in Banco Popular, the biggest microfinance institution in Honduras, to 26.60% in shareholder reshuffling.
View more of our investments in this region
Investment Companies & Funds
Darby International Capital Latin American Fund IV
10,000,000.00
Brazil, Colombia, Peru
01/12/2023
Equity
