November 7, 2017 |
In October 2016, the Bolivian lender Mercantil Santa Cruz purchased Banco PyME Los Andes ProCredit from Germany’s ProCredit. The deal, which Mercantil Santa Cruz financed with its own funds, contributed to its total assets and increased its market share. Los Andes was the leading lender for small and medium-sized enterprises (SMEs) in Bolivia.
“The impact from the acquisition is twofold,” says CEO Darko Zuazo. “It’s a confirmation of our leadership in Bolivia with an incredible boost to our image. Second is the diversification of our loan portfolio, which improves margins.”
Zuazo says the deal has also broadened the bank’s client base. “Their funding was highly institutional, so we are focus
Mercantil Santa Cruz uses well-timed acquisitions to enhance its position as the country’s largest financial institution.