BANCAMIA S.A.

Colombia
Latin America & Caribbean

https://www.bancamia.com.co/

Industry:Banking
Date joined:20 May, 2022
Initiatives:Principles for Responsible Banking

Brief Overview of Organization

Bancamia S.A. is the first microfinance bank created in Colombia in 2008, which was born from the missionary integration of the World Corporation for Colombian Women, the World Corporation for Medellin Women, and the BBVA Microfinance Foundation (group of which it is a part).

Bancamía’s target is to facilitate access to financial products and services for microentrepreneurs with fewer resources, who have historically been excluded due to their economic, social, and geographic conditions, but who represent the greatest productive force in the country. According to this, its missionary purpose is to improve the quality of life of low-income families, expressed in its vision of contributing to the productive development of small entrepreneurs, through Productive Finance, with a value offer designed and adapted to their needs, to support economic, social and environmental development, through support and financial inclusion.

Summary of Sustainability Strategy

Women, youth, peasants, indigenous people, and migrants, among other population groups, are part of the low-income entrepreneurs for whom Bancamía works in its sustainability strategy, measuring the impact of their work on their lives and businesses, hand in hand with the BBVA Microfinance Foundation, in whose missionary purposes the great purpose of generating sustainable development of vulnerable people who have productive activities prevails.

“In Bancamía, we work to facilitate the progress of vulnerable rural and urban entrepreneurs whom we accompany with a value offer that knows their realities and attends to their social, economic, and environmental needs, to accompany them with products and services tailored to their needs, created to generate development with resources and training actions that today allow them to strengthen their production units, mitigate the effects of climate change and empower women economically”, Luis Germán Linares Peña, executive president of Bancamía.