“After two years of the pandemic, there are many competitors that have been weakened by the operational and financial impact. There is a very large market, there is a clear need, there are competitors that have weakened, and Compartamos Banco continues to be close to customers,” said Patricio Diez Bonilla, CEO of Compartamos Banco.
In the microfinance sector, Compartamos serves 40% of the market.
The bank pointed out that 90% of its clients are women and that one way to win more clients is by offering a wide range of products that clients require and taking care of their attention.
Diez Bonilla highlighted the relevance of the loans granted by Compartamos since in a context of economic weakness, people seek to start their own business and thus seek financing.
When questioned about the impacts that inflation and the government’s plans to make agreements to avoid price increases will have, Diez Bonilla said that these types of plans are added to those of the banking system to generate economic dynamism.
The manager added that despite the increase in the reference rate by the Bank of Mexico (Banxico), this will not affect its clients thanks to the fact that the bank has operational efficiencies.
“We can absorb with operational efficiencies and not transfer the increase in the rate to the final consumer. We will try not to impact them to the extent that we can be more efficient,” he said at a press conference.
