Question 1

What is Banco PyME de la Comunidad?

Accepted Answer

Banco PyME de la Comunidad is a specialized small and medium enterprise (PyME) bank based in Bolivia. The institution focuses on providing accessible financial services to micro, small, and medium-sized businesses throughout the country. Operating under the brand name Bancomunidad, it is one of Bolivia's prominent microfinance institutions that transformed into a PyME bank to serve the entrepreneurial community.

The bank is part of the Association of Financial Entities Specialized in Micro Finance (ASOFIN), which includes seven important banks specialized in microcredit and PyME services in Bolivia.

Question 2

When was Banco PyME de la Comunidad founded?

Accepted Answer

The institution began operations on September 9, 1996 under the name Fondo de la Comunidad S.A. F.F.P., after receiving its operating license (SB/0029/96) from the Superintendency of Banks and Financial Entities on September 5, 1996.

In compliance with the Financial Services Law No. 393, the institution transformed into a PyME Bank and obtained a new operating license (ASFI/054/2014) from the Authority for Supervision of the Financial System (ASFI). It officially began operations as Banco PyME de la Comunidad S.A. on July 21, 2014.

The bank has two socially responsible shareholders: COBOCE, Bolivia's largest industrial cooperative since 1967 with assets exceeding 58 million dollars and nearly 30,000 members, and OIKOCREDIT, a Dutch financial entity with over 125 million dollars in Latin American assets and offices across five continents.

Question 3

Where is Banco PyME de la Comunidad headquartered?

Accepted Answer

The bank's headquarters is located at Av. Ballivián N 0576, Zona Central, Cochabamba, Bolivia.

Question 4

Where does Banco PyME de la Comunidad operate?

Accepted Answer

Banco PyME de la Comunidad operates with branches in Bolivia's three major cities: Cochabamba, Santa Cruz, and La Paz. This provides geographic coverage across the country's main economic corridor.

The bank also extends its reach through a network of ATMs throughout these cities and provides services to the rest of the country through the national financial system network.

Question 5

What services does Banco PyME de la Comunidad offer?

Accepted Answer

The bank provides a comprehensive range of financial products tailored to small and medium businesses:

Banking Services: Current accounts for PyMEs with competitive interest rates (2% annually), free POS terminals without guarantee or rental fees, and up to two checkbooks of 25 units at no cost. Account holders receive free monthly statements for up to three months back.

Credit Products: Business loans, agricultural loans, working capital financing, investment loans for infrastructure and equipment purchases, credit lines, and bank guarantees.

Savings Products: Deposit accounts with attractive interest rates and flexible options designed for business needs.

Digital Services: Mobile banking app and internet banking platform for 24/7 access, ATM network access for withdrawals, transfers, and bill payments.

Question 6

What makes Banco PyME de la Comunidad unique?

Accepted Answer

The bank distinguishes itself through its strong commitment to supporting Bolivia's entrepreneurial community with a social mission. Its ownership structure includes both a cooperative (COBOCE) and a social impact investor (OIKOCREDIT), reflecting its dedication to economic independence for underserved populations.

Bancomunidad renewed its institutional image with a commitment to providing clients with a simple and efficient banking experience, personalized attention, and the promise of working to support Bolivia's small and medium-sized business community. The institution emphasizes that it will never over-lend to customers, conducting extensive affordability checks before extending credit.

The bank's core values include trust, honesty, customer satisfaction, empathy, commitment, and teamwork.

Question 7

What type of financial institution is Banco PyME de la Comunidad?

Accepted Answer

Banco PyME de la Comunidad is a Banco PyME (SME Bank), a specialized type of financial institution in Bolivia that focuses exclusively on serving micro, small, and medium-sized enterprises.

This classification was established under Bolivia's Financial Services Law No. 393, which created a distinct category for banks specializing in PyME services. The bank operates under supervision from the Authority for Supervision of the Financial System (ASFI) and holds a specific PyME banking license.

Banco PyME de la Comunidad

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About Banco PyME de la Comunidad in Bolivia