Credicorp completed the acquisition of 77% stake in Bancompartir for $76m.

Credicorp Holding Colombia, a subsidiary of Credicorp, a financial services holding company, completed 77% acquisition of Banco Compartir, a microfinance bank, from Maj Invest Financial Inclusion Fund II, a private equity fund, for $76m. This acquisition represents an important step to expand Credicorp's microfinance business in Latin America. Colombia is one of the countries with the largest potential for microfinance, and with Bancompartir and Encumbra, Credicorp is well-positioned to become a market leader. With this acquisition, Credicorp has a combined microfinance loan portfolio of $3.3bn and over 2m microfinance customers in Peru, Colombia and Bolivia.