Contactar: The First Bank of Nariño, Colombia – Financial Inclusion and Expansion

2024-02-09 20:10:04

In news that marks the Colombian financial system, the arrival of a new player on the country’s banking scene is announced. “Contactar”, a bank of Nariño origin, is finalizing the details to open its doors to the public in the first days of March, extending its reach throughout the national territory.

The history of this bank has its roots 32 years ago, when in the south of the country, in Pasto, the microfinance institution “Contactar” was born. Since its inception, the institution stood out for mainly offering microcredits and developing financial inclusion programs, focusing on the base of the pyramid, especially in rural areas and supporting women entrepreneurs.

However, a few years ago, with the aim of expanding its product offering, “Contactar” began a process before the Financial Superintendence of Colombia to obtain a bank license. After meeting all the requirements, the entity received the long-awaited banking license, thus marking the transition from microfinance institution to bank.

Bank logo Contact

This achievement makes “Contactar” the first bank from Nariño or Pastuso, a fact of which they are extremely proud. Building a bank from one region is not an easy task, and the institution highlights the hard work they have done to get to this point.

The Credit Corporation – Contact, is a Colombian, non-profit microfinance company, governed by private law, which was born in 1991 in the city of Pasto, Nariño and since then has provided well-being to its clients.

SAYS THE BANK’S WEBSITE.

It is important to highlight that, despite its transformation, “Contact” ensures that it will not lose its essence or its DNA. They will continue to bet on rurality and the financing of micro businesses, maintaining their commitment to financial inclusion. However, the banking license will allow them to offer their clients, and any interested person, savings products such as Term Deposit Certificates (CDT) and savings accounts.

Starting in March, the first bank in Nariño will open its doors with a network of 96 commercial offices distributed in 18 departments of the country, including the capital, Bogotá. This step represents not only a significant advance for “Contact” but also a new option for Colombians looking for inclusive financial services adapted to local needs.

Currently, it has 94 offices distributed in 18 departments of the country:

• Nariño
• Putumayo
• Wheels
• Tolima
• Bolívar
• Atlantic
• Caldas
• Caqueta
• Cauca
• Cundinamarca
• Boyacá
• Meta
• Quindío
• Risaralda
• Cauca’s Valley
• Casanare
• Santander
• North of Santander

Relive the interview with

Paulo Emilio Rivas,

president of Contact

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