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Achievements 2005 | Achievements 2004

We fulfilled in 2004

• Ecuadorians rate us as one of the top three banks in the country. • We are the bank with the greatest growth in recall in 2004. • Our mission is to support those who have least, and opinion polls show that we are doing so.

Credit for micro-entrepreneurs

Banco Solidario granted credits to a value of around USD 185 million in micro credit, showing an increase of 38.25% compared to last year. Its portfolio is spread over 137,000 clients (a 41.15% rise) with an average loan per operation of around USD 1,346.

Deposits and Profits

During this period the institution increased deposits by 38.63%, reaching a total of USD 175.50 million. It earned a gross profit, before tax, of around USD 4.6 million.

Foreign Investment

Loans from international organizations have grown by USD 14.5 million and among the most important of these are the CAF, ICO (The Spanish Institute of Official Credit), Microvest, KFW (German Development Bank), Blueorchard and others.

According to the Inter-American Development Bank (BID), Banco Solidario is one of the seven most innovative banks in Latin America.

Support for Emigrants

It is a member of a regional alliance which as been formed of the three major microfinance banks in Latin America : Mi Banco of Peru, Banco Sol of Bolivia and Banco Solidario of Ecuador. It is the first in the world to offer free money transfers, the possibility to buy a house from Spain and immediate credit to family members. With the signing of the agreement between the Confederación Española de Cajas de Ahorro (CECA) and Banco Solidario, in September 2004, the support network for emigrants and their families was consolidated. International organizations and banks are interested in this project, which is not just financial but humane, and a pilot project in the US has been proposed, using the model that Banco Solidario has set up in Spain.

ISO 9000 Certification

Banco Solidario was awarded the Certification for its Quality Management System under the ISO 9001:2000 norm, making it the first micro-finance institution in the World to obtain this type of certificate.

Housing

The Housing area, from the beginning of the program up to December 2004, has completed and handed over almost 4,000 homes. Thanks to these programs, 45,000 temporary jobs have been indirectly created. This area provides organizational support and community development with its "Convivir" Program. By September 2004, 3, 286 families were involved in the program.

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