Banco W

Main figures from Banco W in Colombia reaffirm the commitment to financial inclusion for thousands of microentrepreneurs

José Alejandro Guerrero, president of Banco W.

The bank’s microfinance portfolio reached $1.28 billion last year, represented by more than 220,000 loans, thus supporting the country’s microentrepreneurs and their families.

Colombia News.

Banco W, one of the most important microfinance institutions in Colombia, continues to ensure that thousands of microentrepreneurs and independent workers in the country have the opportunity to work through the loans it grants them for their businesses. Well, since its creation, the financial institution has worked to provide access to savings products and financial services to low-income populations to achieve their economic goals and improve their quality of life.

Read: Banco W, 10 years of service with more than 40 years of experience in supporting Colombian microentrepreneurs

For this reason, the entity has been able to provide a significant contribution to the financial services of many Colombian families with products that promote financial inclusion, such as microcredit, free savings, investment in CDTs, microinsurance and remittances.

2021 figures

Thanks to microfinance products in 2021 the Bank generated financial inclusion to 38,020 people throughout the country, which contributed to their growth and quality of life. (20,836 women and 17,192 men)

Likewise, Bank W once again made visible important efforts in different regions of the country with its 157 offices in the national territory with which it achieves coverage in 30 departments and 716 municipalities of the country, reaching remote populations to generate financial and social inclusionreaching $1.28 billion of microcredit portfolio.

Interested in: Banco W continues to generate financial inclusion in low-income communities throughout the national territory

In Cali and Valle, Banco W’s microfinance portfolio closed at $489,905 million and 69,759 clients.

In Bogotá and Cundinamarca the portfolio closed $124,788 million; in Medellín and Antioquia at $37,000 million; the Caribbean coast at $86,627; in the coffee region $58,269; Pasto and Nariño $74,710 million; in Neiva and Huila $40,565; and in Bucaramanga and Santander it is $39,000 million.

A bank of nature and with a social purpose

According to José Alejandro Guerrero, president of Banco W, «during 2021, microfinance entities in Colombia disbursed more than $9 billion in the microcredit modality, to transfer more than 1.6 million microentrepreneurs. At Bank W we have been key players in this engine for reactivating the economy with a participation of close to 12% of the total amount placed and 11% of the microentrepreneurs served.”

Meanwhile, savings accounts also had an impact on its success with 825,325 and 783,196 clients in this type of product. Thus, the balance of savings deposits was $305,264 million in the national total.

Additionally, they captured $597,843 million in the number of CDTs, reaching 21,767. with 16,450 clients.

“At Banco w we want to provide sustainable development to our clients not only through innovative products designed based on the needs and desires of our clients, but also an excellent experience for all Colombians who want to dream big and achieve their goals” Warrior added.

Also read: ‘Savings Camp’ Banco W’s digital program to help children learn about saving and entrepreneurship



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