Banco Solidario

Website Banco Solidario
Location Ecuador
Key figures Impact story


Banco Solidario’s mission is to contribute to the development and quality of life of micro-entrepreneurs and salaried workers, through financial products and services specifically adapted to their needs. All of this based on a team that makes this mission part of its life.


Solidario conmigo is the result of integrating two successful models: Solidario and UniBanco.

Solidario was created in 1996 to provide services to micro entrepreneurs, a segment ignored back then by traditional banks and of enormous importance for sustainable development. It became the first bank in Latin America specialised in microcredit with 100% private capital, and the first in Ecuador to focus exclusively in this type of financial operation. It has been recognised as a clear innovator in microfinance due to its methodology. evaluation practices and risk management tools.

Unibanco was established in 1994 to serve large segments of the working population with no prior access to the financial system. Since then, it incorporated over 1.2 million salaried workers to the formal financial system, offering them products and services designed to help them organise and solve their daily needs.

This model was likewise a pioneer for its specialisation and reach. It demonstrated that financial inclusion of low income households can be done in a responsible, sustainable and profitable manner, thereby improving their quality of life.

Since 2006, Solidario and UniBanco operated under an association agreement to share knowledge, processes and offer joint services to their clients. In 2013, this agreement concluded with the full merger of the two models.

The resulting bank- Solidario S.A.- integrated employees, clients, assets, liabilities and equity from both banks, with a AA+ credit rating.

In line with its mission, Solidario has disbursed USD 8.5 billion in productive and consumption microcredit loans, to over 500,000 micro entrepreneurs and 1.3 million salaried workers.

It has received over USD 450 million in foreign investment throughout its institutional life to promote micro enterprise in Ecuador.

Solidario is currently the only bank in Ecuador with a social rating (A), and one of the best in Latin America.


Banco Solidario is a privately owned bank with a main shareholder and 225 minority shareholders.

Shareholders and the Board of Directors, appointed by them, jointly establish business objectives and strategies. The Board entrusts the Administration with the day-to-day management of the bank.

The organisation structure is defined based on the mission and strategic focus, with clear and autonomous divisions. There are several committees established to assist in this management: retribution, audit, risk management, ethics, compliance, asset risk rating, and social performance.


  • Diego Calvache, President Board of Directors
  • Fidel Durán, General Manager

Market Focus, Products and Services

The design and variety of the bank’s products and services respond to clients’ needs, priorities and economic activities, as well as to their educational profile, geographical location, among other factors.

Banco Solidario has 57 branches in 26 cities and 14 provinces throughout Ecuador. The bank offers productive and consumption microcredit, each with their own methodology, as well as a credit card specifically designed for clients’ needs.

As of December 2015, Banco Solidario had 334,000 credit clients and over 400,000 total. Long term savings are over 62% of the total, and international funding accounts for 23% of total funding.

The bank’s financial inclusion rate is 37%. Solidario is concentrated on those who need services most: 43% of clients earn less than 1.5 times the monthly minimum wage. The average credit is USD 2650, among the lowest in the market.

Banco Solidario has been the leader in financial education since 2008. Its Cuida tu Futuro program focuses on helping employees and clients develop the skills and attitudes to manage their money, financial products, and finances in a healthy and productive way.

In the case of micro-entrepreneurs, they receive extra help through their ongoing relationship with credit advisors. Banco Solidario has also worked consistently under the Smart Campaign’s client protection principles and was among the first in the region to incorporate them systematically into the credit advisors’ commercial guide.

The bank has also been a local leader in terms of micro-insurance, a product that has proven vital for the economic stability and wellbeing of clients.



Key figures for Banco Solidario

* Figures in USD million
** Based on local currency
Total Assets782720678675737
Funds Under Management00000
Total Assets and Funds Under Management782720678675737
Total Assets and FUM Growth (One Year)**8.58%6.28%0.42%-8.51%-1.18%
Loans (net)575523488495542
Loans to Total Assets73.5%72.7%72.0%73.3%73.5%
Loan Growth (One Year)**9.81%7.30%-1.42%-8.77%5.12%
Client Funding427403389415473
Client Funding to Total Assets54.7%55.9%57.4%61.4%64.2%
Client Funding Growth (One Year)**6.10%3.65%-6.26%-12.45%-0.36%
Equity to Total Assets17.0%17.0%16.5%16.0%15.8%
Tier 1 Capital Ratio13.0%13.4%13.5%14.5%13.8%
Total Revenue123.9117.6103.4114.0123.5
Net Income15.
Return on Assets1.92%1.33%0.50%1.11%1.29%
Return on Equity12.76%8.54%3.13%7.43%8.88%
Cost to Income Ratio63.1%66.3%72.1%71.3%74.2%