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Finance
Fedecredito was born with the objective of helping
small farm producers, small businesses, and low
income workers that were kept out of the financial
system and could not access credit. After 67 years of
history, its essence has not changed and it is a leader
granting credit to Mypimes, with 115 outlets in the
entire country and over 614,000 clients. All Savings
and Loans in the country (48) and 7 Workers’ Banks
are part of the system.
The growth of the last 10 years has been over 300%
with a loan portfolio exceeding $USD 556 million.
Loans granted exceed $USD 32 million; deposits
received exceed $USD 250 million with a growth
in this latter figure of 32.5%. Its equity is around
$USD166 million. It is indeed a system with all
guarantees and a solvency ratio of 26% when the
mandatory is 12%.
Fedecredito not only provides financial services
(second tier bank), but also provides finance for
housing through FONAVIPO (Fondo Nacional de la
Vivienda Popular) – National Popular Housing Fund).
It also develops joint projects and special training.
One third of the loans go to the SMES, another third
of the loans go to consumption, and the other third
to popular housing.
In the next 3-4 years the outlets in the country will
increase with the objective of being accessible to the
people and they will continue with their ambitious
program of technological modernization. Fedecredito
complies with its important social objective that is to
help PYMES and people with very few resources.
“It is very important for the preparation of our youth
to not stop dreaming. It is better to aim at the moon
and reach a volcano’s summit than to aim at the
volcano and hit a stone. It is important to have big
dreams.”
Macario Armando Rosales Rosa,
President of Fedecrédito
ABANSA – ASOCIACIÓN BANCARIA
SALVADOREÑA – (SALVADORAN BANKING
ASSOCIATION)
Armando Arias
President
Pasaje Senda Florida Norte 140, Col. Escalón,
San Salvador
Tel: (+503) 2298 6959
Fax: (+503) 2223 1079
www.abansa.org.sv