Announcement on FINCA’s Operations in Mexico
On November 10, 2016, FINCA Microfinance Holding Company transferred operations and ownership of FINCA Mexico to Te Creemos, a leading majority Mexican-owned deposit taking microfinance institution that shares FINCA’s commitment to providing responsible financial services to clients of all income levels.
The consolidation of the two companies under the ownership of Te Creemos, will strengthen the combined institution, permit for a broader range of services as well as broader geographic and client coverage.
With over 1,600 employees and a loan portfolio exceeding $1 billion pesos, Te Creemos is one of Mexico’s leading microfinance institutions. Te Creemos has been a leader in individual banking, as well as village banking, and has been an active participant in the consolidation of the Mexican microfinance market. Te Creemos has almost 80 offices and operates in over 500 communities throughout Mexico, with over 120,000 active loans benefitting micro and small businesses and over 80,000 credit customers and 22,000 depositors. Te Creemos is an institution regulated and supervised by the National Banking and Securities Commission (CNBV), under the figure of People´s Finance Corporation (Sociedad Financiera Popular – SOFIPO).
FINCA Mexico is one of the country’s first, most successful and well-regarded microfinance institutions. Since its first branch opened in 1989, nearly 4 million hardworking individuals have been given the opportunity to build strong businesses, grow their incomes and improve their lives and communities.
FINCA is proud of its legacy for Mexico, of its contribution to the growth of the micro-finance industry over the last three decades, and of the long-lasting positive impact that the firm has had for generations of Mexicans.