MEXICO CITY--(BUSINESS WIRE)--Compartamos, S.A.B. de C.V. and Subsidiaries (“Compartamos”) (BMV: COMPARC*), announced that Compartamos S.A. (Guatemala), one of its subsidiaries, today granted its first micro loans in Guatemala. As a result, Compartamos, S.A.B., de C.V. maintains its commitment to offering development opportunities to low income segments through financial products. “We are committed to generating social, economic and human value in the lives of our clients, while clearly maintaining our mission to serve the greatest number of people in the shortest amount of time possible, not only in Mexico, but also in other countries,” stated Mr. Javier Fernández Cueto, Compartamos’s Director of Strategy and New Business.
Compartamos S.A.’s Guatemala service offices are located in the departments of Quetzaltenango (Coatepeque and Quetzaltenango), Retalhuleu (located in the region of the same name), as well as in Suchitepequez (Mazatenango).
With this operation, Compartamos, S.A.B., de C.V. is undertaking another step in its international expansion. In March 2011, the Company announced an agreement to purchase an 82.7% stake in Peru’s Financiera Crear. These international operations add to those that the group already has in Mexico, which through Compartamos Banco, serves more than 2 million people with working capital loans.
Company Description
Compartamos is a holding company whose objective is to promote, organize and manage, all types of companies, national and internationally subject to its investment policies. As of now, Compartamos only subsidiary is Banco Compartamos, S.A., Institución de Banca Múltiple. Compartamos was established in 2010 and headquartered in Mexico City. Compartamos shares began trading on the Mexican Stock Exchange on December 24, 2010 under the ticker symbol “COMPARC”.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Bank performance and financial results. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Bank, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.