Banco Solidario

Debt : June 2019

Banco Solidario started its activities in 1996 with a social mission which focuses on the microfinance segment and vulnerable populations.

Amount

€ 8,338,200.00

Type of investment

Debt

Development impacts

  • Local economic growth
  • Financial inclusion

Beneficiary locations

Latin America and Caribbean: Ecuador

Investment field

Financial Institutions

Activity

Microfinance Institution

Organisation

Banco Solidario

Domicile

Ecuador

More investments in

Banco Solidario

  • Debt $ 20,000,000.00 (2023)
  • Subsidy $ 16,143.00 (2023)
  • Subsidy € 15,719.00 (2021-2022)
  • Subsidy € 12,290.60 (2019-2020)
  • Subsidy € 77,220.00 (2012-2014)
  • Debt € 5,987,000.00 (2012-2016)

After more than 20 years of operations, Banco Solidario reached an asset base of 624m. USD, over 270,000 credit clients served in 53 branches across the country, and it employs more than 1,300 salaries.

Banco Solidario is one of the leading microfinance players in Ecuador: 47% of its total portfolio is directly lent to microenterprises for productive purpose, which makes BS the second biggest provider of microloans in the country (98,000 microloans outstanding with an average loan amount of 2,873 USD). The rest of the portfolio (53%) is invested in other inclusive loan products targeting low-income populations.

Development impacts

  • Local economic growth

    Financing microenterprises.

    Elevated outreach as compared to competitors: over 275,000 active loans and 121,000 active accounts.

    Directly employs more than 1,200 people.

  • Financial inclusion

    Increasing adequate financing for the lower strata of the population in Ecuador (average microloan: 2,873 USD).

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  Debt