During 2013, Payroll, Group loans and Durable Goods products jointly grown 41.1% in comparison with 2012 results.
In 2013, we increased 23.3% our group loan portfolio as a result of new distributors’ alliances. Besides, we focused our business growth in the central area of the country, where we have an important market share. 2013 increase was supported by the alliance with Financiera Contigo, one of our distributors, which consolidated our entity and reinforced the growth of our portfolio in this business line.
We strengthened the operation of Crediequipos and Financiera Contigo branch network, which devised Crediequipos Contigo, uniting the best of both distributors; this allows keep making improvements aligned with Group loans foundation principle which is to trust our customers by granting a service which offers facilities for obtaining a credit.
The main characteristic of our Group loans product is supporting women’s efforts as responsible customers when they get a loan; this is why we grant a solidarity group loan mainly too women entrepreneurs or owners of very small businesses, who are self starters or in need to cover their working capital needs in order to grow their business, as they normally are not served by to the traditional financial sector.
According to the figures of the plan Pro-Desarrollo 2012-2013 (pro development government initiative), our brand is among the 10 top ranked institutions with the largest number of active customers and the largest loan portfolio in terms of amount.