BPB's micro credit portfolio reaches US$21m in April


Brazilian micro credit bank Banco Popular do Brasil (BPB) saw its micro credit portfolio reach reais 54m (US$21.3m) in April, its parent Banco do Brasil (BB) said in a statement.

BB launched BPB in February last year to provide basic banking services to low-income Brazilians. The bank's distribution model is entirely based on partnerships with non-bank distributors such as retail stores and drug store chains.

BB also said that BPB had surpassed the 1.4 million-client mark in April.

Source: BN Americas



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Posted on Apr 25, 2005
Region: Brazil