Rural women and the eradication of poverty are Bancamía’s main priorities

18 October 2016

Bancamía has joined in the commemoration of the international days organized by the United Nations to shine a spotlight on the importance of rural women’s development and the need to reach global agreements that contribute to eradicating poverty.

This is evidenced by Bancamía’s figures: 56% of its 817,270 customers in 2016 are women. Of these, 76% are in a situation of vulnerability and 30% are below the poverty line. 38% of its female customers live in the countryside, 40% work in rural activities and 36% in retail sales.

Rural women look for ways to save, invest, consume responsibly and plan for their families’ future, although only 38% of customers have completed their high school studies, and 62% have only basic education.

The department for Measuring Impact and Strategic Development (MIDE) at the BBVA Microfinance Foundation, to which Bancamía belongs, has promoted its own methodology for measuring the social and developmental parameters of its customers and analyzing the changes in their businesses and living conditions and those of their families. According to this data, customers that have been with Bancamía since 2014 have increased their assets by an average of 28%, their sales by 22%, and their surpluses by 27%.

To support the development of the Colombian countryside and contribute to reducing poverty, Bancamía continues to reinforce its presence in remote areas of the country through its branch offices and banking correspondents. Its Productive Development Executives visit entrepreneurs in their businesses and provide them with support, financial literacy training, products and services tailored to their needs.

The bank supports the progress of vulnerable entrepreneurs in a sustainable way, creating opportunities for inclusive development to help them rise out of poverty through Productive Finance.