BIO raises its stake in Banco Popular

BIO raises its stake in Banco Popular

The Belgian Investment Company for Developing Countries (BIO) has been an investor in Banco Popular since 2008 and now makes its fourth follow-up investment amidst a reshuffling of the bank’s shareholding.

Institutional investors IFC and BCIE and impact investor Bamboo Finance have sold their full participation in Banco Popular (together almost 65% of the total shares). Their shares are being taken over by new shareholders Incofin and Triple Jump (through ASN Microkredietfonds) while existing shareholders BIO and FMO increase their position.

Together with Bamboo Finance, BCIE, FMO, and IFC, BIO has played a key role in attracting both local and international funding that has fostered the bank’s expansion in recent years and now raises its stake from 17.93% to 26.60%.

Today, Banco Popular is the leading microfinance institution in Honduras with over 60,000 clients and a consistent profitability. During the last years the bank expanded to rural areas, where the need for financial services and agro-credit is more critical. This is a strategy that will be fostered with the new shareholders as well.

A significant portion of the Honduran population remains excluded from key financial services. Despite their critical role in the economy, small businesses in particular remain excluded or underserved in the Honduran market, especially in rural areas. Banco Popular’s mission fits into BIO’s fund strategy.

Besides a rural expansion, the bank is on the beginning of a digital transformation. The bank is already implementing amongst other initiatives digital and mobile tools that facilitate data collection during the loan origination. Further digitization is scheduled for the coming years.

Contact

Ben Jehaes
ben.jehaes@bio-invest.be
+ 32 495 54 78 40

Banco Popular

  • Equity € 1,559,546.70 (2022)
    Latin America and Caribbean, Honduras

  • Subsidy € 10,223.00 (2022)
    Latin America and Caribbean, Honduras

  • Subsidy € 12,508.00 (2021-2022)
    Latin America and Caribbean, Honduras

  • Debt € 4,494,000.00 (2019)
    Latin America and Caribbean, Honduras

  • Equity € 121,408.00 (2017)
    Latin America and Caribbean, Honduras

  • Equity € 200,374.59 (2015)
    Latin America and Caribbean, Honduras

  • Equity € 1,364,000.00 (2010)
    Latin America and Caribbean, Honduras

  • Equity € 1,357,000.00 (2007)
    Latin America and Caribbean, Honduras

More news

Reception 18 January 2024

 News

Reception 18 January 2024

12-02-2024

On the 18th of January, BIO organised a reception as a celebration of the New Year, the first edition of the Ubora Prize, and the handover of the position of CEO of BIO of Luuk Zonneveld to Joris Totté.

Read more
IFC and SIMA Launch Solar Green Bond for Small and Medium Solar Developers in Africa

 News

IFC and SIMA Launch Solar Green Bond for Small and Medium Solar Developers in Africa

07-02-2024

IFC, a member of the World Bank Group, in partnership with Social Investment Managers and Advisors LLC (SIMA Funds or SIMA) and other financiers have reached the first close of the $150 million SIMA Commercial & Industrial Solar Green Bond, which will finance small-scale productive-use solar projects throughout Africa.

Read more
Publication of BIO's first digital Development and Sustainability Report

 News

Publication of BIO's first digital Development and Sustainability Report

25-09-2023

It is with great pleasure and enthusiasm that the Belgian Investment Company for Developing Countries (BIO) announces the publication of its first-ever digital edition of its Development and Sustainability Report.

Read more