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Article: ACCION Investments in Microfinance Supports Launch of Bancovelo, Honduras's Leading Commercial Microfinance Bank.
- Article from:
- PR Newswire
- Article date:
- March 3, 2008
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BOSTON, March 3 /PRNewswire/ -- ACCION(R) International, a pioneer and leader in global microfinance, today saluted the successful launch of Banco Popular Covelo (Bancovelo), a newly transformed commercial microfinance institution in Honduras, which opened its doors on February 1, 2008.
Created by a merger of Popular, a microfinance savings & loan company sponsored by Grupo Financiero Covelo, with two sister entities, Bancovelo is the leading regulated microfinance organization in Honduras, with a loan portfolio of approximately $50 million and a network of 23 agencies and seven offices spread across rural and urban Honduras, with four additional agencies ...