On August 20, Asociación Panameña de Crédito (APC) held the seventh APC AWARDS. More than 100 financial and commercial institutions were nominated and 15 of them received prizes for reporting correct, accurate and complete information to the benefit of the system, national economy and their clients.
This year the prizes were divided into 3 categories with 5 prizes in each: Information Quality, Compliance, Updating, Satisfaction and Completeness of Fields.
In category A, which reports more than 25,000 references, Microserfin came out on top, in first place for Completeness of Fields, Information Quality, Updating and Compliance.
Microserfin belongs to the BBVA Microfinance Foundation Group set up in 2007. BBVA Microfinance Foundation promotes the sustainable and inclusive economic and social development of underprivileged sectors through Productive Financing, its specialty and methodology.
In Panama, Microserfin currently provides a service to more than 15,000 entrepreneurs, 43% of whom are female (6,450 females), 70% are economically vulnerable, 33% have primary education, 22% are younger than 35, 79% are single or heads of the household and 38% live in rural areas. Microserfin has given out loans worth more than 20 million dollars to undertake productive activities, with an average loan of 1,350 dollars.