Financiera Confianza obtains 2.6 times the demand in its placement of the A series of its fifth issue of negotiable certificates of deposit

6 October 2016
Financiera Confianza

Financiera Confianza placed negotiable certificates of deposit at 360 days for S/70 million soles and obtained in response a demand of S/182,810 million at a rate of 6.3123%.

“The market has always responded well to our issues, but we see this new result as very encouraging because it shows the market not only recognizes us, but also supports our mission –which is to generate opportunities for sustainable development for the most disadvantaged people in the country. We are very satisfied”, declared Martín Naranjo Landerer, general manager of Financiera Confianza.

In this fifth issue series, Financiera Confianza saw demand of more than 2.6 times the amount placed.

Financiera Confianza is working to reach the greatest possible number of people in the low-income sector in Peru to support their real and sustainable development through its Productive Finance methodology, thanks to which 41% of its customers who were poor when they started out with the bank rose out of poverty two years after receiving its support.

In 2015 it served over 93,500 new customers, of whom 81% are vulnerable and 23% are in the rural sector. Women account for 52% of the total. Of the total number of new customers, 42% have joined the formal financial system for the first time thanks to Financiera Confianza, and 57% are exclusive customers of the bank.

The bank also has a very high-quality portfolio and –at 2.85% (in August 2016)– the lowest accounting default rate in the microfinance system.