Oikocredit sells its equity shares in Banco de Desarrollo Rural (Banrural), Guatemala

Amersfoort, the Netherlands – Social impact investor and worldwide cooperative Oikocredit has sold its equity investment in Banrural, having helped the bank develop into a leading Guatemalan financial inclusion institution since first investing in it in 2009.

By end-2023 Banrural had reached a total of 3.5 million clients and held more than 5.1 million savings accounts and 28% of total savings managed in Guatemala’s financial system. With an equity base of GTQ 12,423 million (EUR 1.47 billion) and 9,000 direct jobs, its clients include members of rural communities, Indigenous peoples, and cooperative and women’s organisations.

Banrural has consistently promoted financial inclusion, served people at the base of the pyramid and pioneered access to finance. Oikocredit has played a key role through its equity holding and partnership in helping unlock the bank’s potential, supporting its consolidation and mission fulfilment, and strengthening Guatemala’s cooperative movement. Now a major player in the country’s financial ecosystem, Banrural has extended its mission to neighbouring Honduras.

Oikocredit has sold its equity shares to nine independent cooperatives and federations, helping further democratise Banrural’s capital base and fostering fair future wealth distribution among Guatemalan communities.

Lizardo Sosa, Banrural’s President, said: “Oikocredit's shareholding in Banrural has been highly beneficial from the beginning. It has supported the bank's capital growth and consolidation, its focus on financial inclusion, the democratisation of capital, and improvements in the living conditions of millions of rural Guatemalans. Oikocredit’s sale of its shares to an important group of cooperatives has now helped strengthen these organisations and the Guatemalan cooperative movement.”

Rodolfo Orozco, Director of Confecoop Guatemala (Guatemala’s national confederation of cooperative federations), said: “More than 15 years ago, the pioneer cooperative shareholders of Banrural invited Oikocredit to be part of the development of rural finance in Guatemala by investing in the bank. Banrural’s credit portfolio is oriented towards rural areas, small producers and entrepreneurs, and women’s participation, and we recognise Oikocredit’s strategic and timely contribution.”

Antonio Rodriguez, Oikocredit’s Equity Officer for Mexico, Central America and the Caribbean, said: “We are proud to have partnered with Banrural. Our successful exit results from the bank’s building a sustainable business model involving deep financial inclusion and outreach across all Guatemala. This underscores the importance of impact investing in driving sustainable development, and we remain committed to investing in ventures that deliver measurable social and environmental benefits alongside financial returns.”

About Banrural

Banco de Desarrollo Rural (Banrural), Guatemala, is a financial group focused on the comprehensive rural development of the country with private and multi-sector capital. It provides universal banking services and national and regional coverage, aimed primarily at micro, small and medium-sized entrepreneurs, farmers and artisans.

Committed to fair profitability and social responsibility, Banrural has a close relationship with Guatemala’s rural cooperative sector. For more information, visit www.banrural.com.gt.

About Oikocredit

Social impact investor and worldwide cooperative Oikocredit has nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy.

Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.

Oikocredit finances more than 520 partners, with total outstanding capital of EUR 1,029.8 million (at September 2024). For more information, visit www.oikocredit.coop.

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Note for editors

For more information or to request an interview, please contact: Viviana Cordero, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: vcordero@oikocredit.org.