Banco de las Microfinanzas - Bancamia S.A.

About Banco de las Microfinanzas - Bancamia S.A.

After 20 years of successful microcredit work in Colombia, the managers of Corporaciones Mundial de la Mujer Colombia and Medellín, María Mercedes Gómez de Bahamón and Margarita Correa Henao, analyzing the growth possibilities of their NGOs to provide greater opportunities to their clients, began the path that would lead to the creation of Bancamía. After the "Due Diligence" process, the Agreement of Actions for the constitution of a microfinance bank in Colombia was signed on July 23, 2007, with a 51% shareholding of the Fundación Microfinanzas BBVA and 49% in equal parts, for CMM Medellín and CMM Colombia. On February 11, the request for authorization for the creation of Banco de las Microfinanzas – Bancamía S.A. was filed, and on April 8, 2008, the Superfinanciera Financiera de Colombia granted the respective authorization. In April of the same year, the company's incorporation was signed, raising the statutes of the new entity to public deed. The Superintendencia Financiera de Colombia authorized Bancamía to begin operations in October 2008. On Tuesday, October 14, 2008, Bancamía opened its doors to the public as the first banking institution dedicated exclusively to financial services for the microenterprise sector, with the objective of promoting the development of its major clients, who with small businesses, transform the country's economy.