This award is recognition of the work and mission performed by the bank to improve the quality of life of low-income families in Colombia, through the provision of financial products and services tailored to the needs of those who are looking to escape poverty through a business.
Bancamía was a finalist in Best Social Performance in the category Social performance as inclusive business. The organization is based on leadership and a corporate governance system that guides management in finding a balance between social, environmental and economic goals. It was chosen among the 189 initiatives submitted to this edition.
The Andesco CSR Award recognizes companies that contribute to building a more competitive country, through their effective management of Corporate Social Responsibility.
Seventy-five percent of Bancamía credit customers are economically vulnerable. The company serves a segment of the population which is normally excluded from the formal financial system.
The progress of the bank’s vulnerable entrepreneurs is significant. After two years with the bank, 30% are no longer under the poverty line. Currently serving over 809,000 customers, most microentrepreneurs, awarding 975 loans per day and 122 per working hour in the 200 branch offices it has in 29 of the 32 departments in Colombia.