FINANCIAL INCLUSION
Corporate Responsibility Report 2008
26
FINANCIAL
INCLUSION
PAVING THE WAY FOR NEW SEGMENTS OF THE POPULATION TO ACCESS
FINANCIAL SERVICES IS ONE OF THE MORE GENUINE EXPRESSIONS OF
A FINANCIAL INSTITUTION’S CORPORATE RESPONSIBILITY. IN 2008, THE
GROUP’S MAJOR INITIATIVE INVOLVING THE BBVA MICROFINANCE
FOUNDATION HAS ALREADY BENEFITED 1.7 MILLION PEOPLE.
346,758
No. of customers of the
BBVA Microfinance
Foundation
BBVA
MICROFINANCE
FOUNDATION
As part of its pledge to
financial inclusion, in 2007
BBVA set up the BBVA
Microfinance Foundation,
a non-profit institution whose mandate is to use
microfinance to promote the economic and social
development of those at greatest disadvantage,
initially in Latin America.
With an initial endowment of €200m provided
by the Group, the foundation is consolidating a
microfinance network through the creation and
integration of microfinance institutions with a strong
local presence and solvency in the management of
these resources for low-income groups.
27.36
Fondo BBVA Codespa
Microfinanzas Hedge
Fund (volume in
million euros)
«Non-banking correspondents», a new form of bancarisation in Colombia
In those countries in the region in which levels of banking usage, or bancarisation, are still very
low, and especially in those areas and villages that are beyond the reach of its branch network,
BBVA is present through the figure of «Non-Banking Correspondents», an efficient way of providing
banking services to all segments of the population.
For users, the «Non-Banking Correspondent» is a way of drawing them closer to the bank, removing
surcharges in financial operations, reducing travel times and, in short, facilitating their access
to the financial system. The case of Colombia is especially significant, as this country has 50
correspondents that open the door for thousands of customer to services that were hitherto
almost beyond their reach.
22.5%
Customer share of
the migrant segment
(Spain)
The BBVA Microfinance Foundation furnishes
the institutions in the network with the necessary
resources for their empowerment and development,
whereby they can extend their services to more
needy people and in better conditions, and so
pursue the financial inclusion of millions of small,
low-income entrepreneurs who have no access to
the traditional financial system and whose
opportunities for development are limited.
In 2008, the foundation extended its
microfinance network by creating and
incorporating new institutions tailored according
to criteria of sufficiency and sustainability, vital
aspects for their future, and with which it seeks to
830
Average amount
of microloans
(USD)
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