Mission

BancoSol is a bank that offers opportunities to the lowest-income sectors for a better future, providing them with high-quality, integrated financial services.

Short History

In November, 1986, international and Bolivian investors founded the Fundación para Promoción y el Desarrollo de la Microempresa, as a Non Governmental Organization (NGO).

The most promising alternative and most viable instrument to deliver the organisation’s objectives, and overcome the legal and financial structure limitations of an NGO, was the creation in February 1992 of the first commercial bank specialized in microfinance: Banco Solidario S.A.

After over eighteen years in business, BancoSol has disbursed more than USD 2 billion for more than 1.5 million micro enterprise projects. Currently, the Bank has more than 130,000 clients who account for a total loan portfolio of over USD 355 million. In addition, BancoSol possess deposits of almost USD 335 million from more than 260,000 clients. The Bank is present in eight large cities in Bolivia (La Paz, Cochabamba, Santa Cruz, Oruro, Tarija, Potosí, Sucre, Cobija and Trinidad) through a network of more than 100 branches.

Management Board

  • Kurt Koegnisfest (Chief Executive Officer)
  • Enrique Ferraro (President of Directory)

Market Focus, Products and Services

Entrepreneurs with a small capital base but with dynamic adjustment capabilities are BancoSol’s core clientele. Women play an important role in terms of the numbers and amounts of outstanding loans; they account for 46% of BancoSol’s clients and 40% of the loan portfolio. Most of BancoSol’s clients are young, between 35 and 40 years old, with low levels of formal education.

BancoSol clients operate in the informal economy, which contributes more than 20% of GDP and generates employment for over 65% of the employed population.

In three of the country’s biggest cities, the micro entrepreneurial sector grows at 5% per year. There are approximately 800,000 micro enterprises, largely urban, that form part of this informal economy, generating over 1.7 million jobs for the economically active population.

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