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Fundación Microfinanzas BBVA takes over Soluciones de Microfinanzas in Panama

Wednesday, December 29, 2010

Fundación Microfinanzas BBVA, the Spanish bank’s micro-finance unit has taken a 70 percent stake in Soluciones de Microfinanzas (Microserfín) from the Panamanian bank Panameño de la Vivienda.

As a result, Microserfin will consist of the 70 percent holding of Fundación Microfinanzas BBVA combined with a 30 percent of Microfinanzas, Fundación para la Promoción Microempresarial. Microserfin is a specialist in providing credits to small companies. Its client base amounts to 9,000 low-income owners of businesses.

Original source (in Spanish): Cinco Días