55% of Financiera Confianza’s customers are able to rise out of poverty in the third year of their association with the bank

16 October 2015
Financiera Confianza

To mark the International Day for the Eradication of Poverty, Financiera Confianza announces that its methodology has enabled 55% of its disadvantaged customers who have remained with the bank since 2012 to rise out of their situation of poverty.

“Our mission establishes a methodology –Productive Finance– in which the customer is at the center, and which organizes its operations, locates its channels and designs its products in order to improve our customers’ quality of life. This can be seen from the fact that after three years with Financiera Confianza, over half the poor people we support rise up out of poverty” said Socorro Heysen, associate general business manager for Economic Studies at Financiera Confianza.

The bank supports over half a million of its customers who are entrepreneurs that request some kind of credit and savings product. 52% are women. It is present in all the regions of Peru, and is also the microfinance bank with the broadest reach in the rural areas of the country.

It has a system of Social Performance Management which makes detailed studies on the evolution of its customers, so they can measure the performance impact of the productive enterprises on vulnerable people.

These measurements allow Financiera Confianza to report that from January to September 2015 it served 69,000 new customers, of whom 79% were in a situation of vulnerability (household income of less than S/.825), 23% belong to the rural sector, and 51% are women. The bank supports them in developing their businesses and in improving their own quality of life and that of their families.

Of the total number of new customers (January-August 2015), 42% have joined the formal financial system for the first time thanks to Financiera Confianza, and 56% of that total are exclusive customers of the bank.

Each year since 1993, October 17 is designated International Day for the Eradication of Poverty, a date established by the United Nations to promote a greater awareness of the need to eradicate poverty and homelessness in every country, and particularly in developing countries like Peru.

This year’s slogan –”Building a sustainable future: Coming together to end poverty and discrimination”– clearly coincides with Financiera Confianza’s mission to achieve the eradication of poverty through sustainable development.