Bamboo Capital Partners leaves Confie after triple-digit growth in loan and savings portfolios
Bamboo Capital Partners (“Bamboo”), the impact investor specializing in emerging and frontier markets, today announces its successful exit from CONFIE, a Latin American microfinance investment holding company.
CONFIE supports the development of the microfinance sector through investment, financing and technology to promote equitable and inclusive development in Latin America.
Thanks to its investment in CONFIE in 2007 as part of its first Financial Inclusion Fund, Bamboo had a positive impact on the development of two microfinance institutions: Banco FIE in Bolivia and Fie Gran Poder in Argentina.
During this period, Banco FIE, CONFIE’s main investment, extended its network of branches and ATMs from 102 to 470 points. The number of permanent employees of Banco FIE, CONFIE’s main investment, rose from 1,009 to 3,207. The number of active borrowers of the institution rose from 86,000 to more than 200,000 at the time of exit. while the number of depositors increased from 282,000 to more than 1,041,400. In local currency, the institution’s loan portfolio has multiplied by 11 and its savings portfolio has been multiplied by 16.
Likewise, FIE Gran Poder has multiplied its loan portfolio by 4.2 times over the past 13 years and the institution has opened an additional branch, bringing the total number of branches to eight.
This is the latest in a series of successful Bamboo exits in the microfinance sector, following the exits of Svasti Microfinance in early 2020 and Accion Bank in late 2019. To date, Bamboo’s investments in microfinance companies and fintech have provided 87 million people worldwide with access to financial services.
Jean-Philippe de Schrevel, Founder and Managing Partner of Bamboo Capital Partners said: “This is a successful and responsible exit, which extends our exceptional experience in the microfinance industry. The backdrop for this outing – with COVID-19 and the political transition in Bolivia – is unlike anything we’ve experienced, and so I’m incredibly proud of the Bamboo team for bringing this deal to fruition over a period of time. unprecedented period.
“I am also proud that we are selling our participation to the NGO FIE, a true historical pioneer of Bolivian and Latin American microfinance. We have played a crucial role in scaling Banco FIE and other CONFIE subsidiaries to provide growth opportunities to hundreds of thousands of micro-entrepreneurs in Latin America through access to financial services, and we look forward to following CONFIE’s future progress as it takes the next steps on its social mission.
Ximena Behoteguy, Executive President of the NGO FIE and Chairman of the Board of Directors of Banco FIE said: “We thank Bamboo Capital Partners (BCP) for their trust. When we created CONFIE, we looked for a partner who would share a similar mission and vision to ours, and we found Bamboo Capital Partners to be the best travel companion in these twelve years of successful partnership, working together to promote the access to financial services.
“We will continue to promote access to financial services, because thanks to the responsible and transparent mutual relationship established, FIE ONG was able to buy the part of Bamboo Capital Partners which, beyond being a successful transaction, is of the most of great importance to us. . For the NGO FIE, working for social and financial inclusion and equal opportunities is a life mission ”.
“In the future, we hope to find a partner with the same commercial and human qualities as the team of Bamboo Capital Partners, whose relationship is, without a doubt, an example of good governance for other microfinance institutions in the world. “.