After a process of mutual, deep, broad and rigorous knowledge, the Fundación WWB Colombia, majority shareholder of Banco W, and Fundación Grupo Social reached an agreement for the latter to become its new strategic partner in Banco W. with the objective of promoting the sustainable growth of the financial entity.
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The transaction, which is subject to approval by the Financial Superintendence of Colombia, contemplates the acquisition of 51% of Banco W by the Organization led by the Grupo Social Foundation, through entities that comprise it, such as the Inversora Fundación Grupo Social with 48%, the Foundation for Local Integral Development with the 2% and Fundación Emprender Region with 1%, with which the WWB Colombia Foundation will continue with 49% of the shares of Banco W.
The WWB Colombia Foundation shares with Fundación Grupo Social the genuine purpose of seeking the common good and generating positive social impact. In addition, both foundations are pioneers in the development of microfinance and in opening paths of inclusion and generation of opportunities for populations in situations of poverty and vulnerability, therefore, making them the ideal partners to develop Banco W’s growth plans. .
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For Daniela Konietzko, president of the WWB Colombia Foundation: “The arrival of Fundación Grupo Social will add an extraordinary partner who, with his experience and knowledge, will add value to the strengthening of Banco W’s management, for the benefit of its growth and profitability projections. For both the WWB Colombia Foundation and the Grupo Social Foundation, it is clear that Banco W will continue to consolidate its missionary values to continue contributing to the improvement of the quality of life of the communities at the local and national level.”
The entity has been recognized for several years as a model of customer service, remembering and recommending its policies.
For his part, Juan Carlos Gómez, president of Fundación Grupo Social, stated: “this opportunity allows us to benefit our missionary segments, including small and medium-sized entrepreneurs, with financial products and services tailored to their needs. At the Grupo Social Foundation we are very excited about this alliance that shares the purpose of having an impact on society through the generation of opportunities for those who have had them the least.”
It is worth clarifying that the sale and acquisition of 51% of the shares of Banco W does not imply changes for the WWB Colombia Foundation either in its vocation or in the work it has been doing. Banco W and Banco Caja Social, owned by Fundación Grupo Social, will each continue to independently develop their strategies, business plans, product portfolio and customer service.
With this decision, the WWB Colombia Foundation reinforces its commitment of more than 40 years to closing inequality gaps for women and the promotion of their participation in inclusive economic development and growth, equality and the generation of capabilities and opportunities.
This alliance constitutes good news for Colombians as it is a decisive step to reach more people and regions, progressively strengthen the value offers of the WWB Colombia Foundation and the Grupo Social Foundation, and advance in the digital transformation to be able serve Bank W customers better and in a more timely manner.
