Globally, 2 billion adults lack access to financial services, i.e. 38% of adults around the world. In Latin America alone there are 210 million 1 people excluded from the financial system.
1 Source: 2014 Data, Global Findex, World Bank. The Global Findex database is the world’s most comprehensive database on financial inclusion that consistently measures people’s use of financial services across countries and over time. It consists of over 100 indicators and is based on interviews with about 150,000 nationally representative and randomly selected adults (age 15+) in over 140 countries. The survey was carried out using randomly selected, nationally representative samples. Denotes the number of respondents who report having an account (as sole title owner or with someone else) at a bank or another type of financial institution.
2 IDB – Fomin 2015, Financial Inclusion in Latin America and the Caribbean: Data & Trends.
1 Source: 2014 Data, Global Findex, World Bank. The Global Findex data base is the world’s most comprehensive database on financial inclusion that consistently measures people’s use of financial services across countries and over time. It consists of over 100 indicators and is based on interviews with about 150,000 nationally representative and randomly selected adults (age 15+) in over 140 countries. The survey was carried out using randomly selected, nationally representative samples. Denotes the number of respondents who report having an account (as sole title owner or with someone else) at a bank or another type of financial institution.
BBVAMF has created a group of microfinance institutions, which has become one of the biggest private philanthropic initiatives in Latin America.
509 offices across 7 countries through 8 microfinance institutions (MFIs) and 7,910 employees.
Serving around. 1.7 million clients with an indirect impact on 6.9 million people.
83% of the total clients as of Dec 31st 2015 are vulnerable, of which 35% are classified as poor (i.e. below the poverty line of their respective country).
Total Aggregate Assets as of December 31, 2015 (USD million)
Solid asset base to support MFI growth.
BBVA Microfinance Foundation (BBVAMF) was incorporated in 2007 as a major component of the corporate social responsibility strategy of its founder, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), focused on financial inclusion.
BBVAMF operates as a financial holding that actively manages the microfinance institutions (MFIs) in which it has majority stakes with the aim of addressing the financial needs of low-income micro-entrepreneurs in Latin America through Responsible Productive Finance, a methodology designed in-house.
Using a centralized approach, BBVAMF supports the MFIs so that they can optimize their daily operations by providing financing and banking expertise at all levels in order to build sustainable institutions that create real economic and social value in the communities they reach. At the same time BBVAMF safeguards their mission to boost sustainable economic and social development for the disadvantaged people in society through Responsible Productive Finance.
Through a range of departments including HR, Service Delivery Infrastructure, Internal Audit, Compliance, Finance, Impact Assessment, Analysis and Research, to name just some, BBVAMF supports each MFI as required, while building on local know-how and expertise.
BBVAMF is based on a strong combination of banking and philanthropy expertise
Founding NGOs
Corporación Mundial de la Mujer Colombia
Corporación Mundial de la Mujer Medellín
ONG Adopem
SEPAR (Servicios Educativos, Promoción y Apoyo Rural)
Hogar de Cristo (Chile)
Multilaterals
International Finance Corporation (World Bank)
International Investment Funds
Incofin
responsAbility
Oikocredit
Claudio González-Vega
(Chairman)
Professor emeritus at Ohio State University, internationally renowned authority in finance and development particularly in analysis, promotion and regulation of microfinance.
Tomás Alfaro
Director of Management and Business Administration graduate studies at the Universidad Francisco de Vitoria (Spain)
María Begoña Susana Rodríguez
University Professor of Corporate Economics and Management Control at La Comercial, University of Deusto (Spain)
Gonzalo Gil
Former Deputy Governor of the Bank of Spain
Nancy Barry
Former President of Women's World Banking
José Barreiro
Previously responsible for BBVA Group’s Wholesale Banking & Asset Management and Corporate & Investment Banking areas, former Vice-President of Bolsas y Mercados Españoles
Javier Flores
Non-voting member
Paloma del Val
Non-voting member
Javier Flores
CEO
Alejandro Lorca
Finance
Paloma del Val
Legal & General Secretariat
María Oña
Communications
Miguel Ángel Ferrer
Human Resources
Miguel Ángel Charria
Risk Management
Joao Costa
Service Delivery Infrastructure
Rodrigo Peláez
Impact Assessment
Giovanni Di Placido
Analysis & Research
Joaquín Ángel Cortés
Internal Audit
Silvia Duro
Compliance
Miguel Ángel Martín
Commercial Development