Microfinance Focus March 29, 2011: Compartamos, a microfinance institution in Mexico recently announced acquisition of 82.7% stake in Financiera Créditos Arequipa S.A. (Financiera CREAR), a Peruvian microfinance institution, for about US$ 63 million.

Carlos Labarthe, Executive President of Compartamos said, “This transaction fills us with pride, while reinforcing Compartamos’ strategy. In Peru, we are witnessing a mature financial sector, as well as a potential market for group loans, which is currently underserved. Financiera CREAR is one of the strongest financial institutions in Lima and Arequipa.”

He added, “It also includes a solid and experienced management team, led by Mr. Javier Valencia, Chief Executive Officer and Mr. Ralph Guerra, Business Director, with 12 and 19 years, respectively, of experience at Financiera CREAR. Both have the necessary leadership skills to grow Financiera CREAR, as well as broad knowledge of the Peruvian microfinance sector. We are confident of the added value that Compartamos can bring to the Peruvian market, via Financiera CREAR, with our experience and track record.”

Compartamos is a subsidiary of Banco Compartamos, S.A., Institución de Banca Múltiple. It was established in 2010 and is headquartered in Mexico City. Compartamos shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol “COMPARC”.