10 Apr Deal of the Month: Te Creemos acquired CAME
Te Creemos, a specialized financial institution that provides comprehensive financial services to the unbanked Mexican population and to small and micro enterprises, acquired 100% of the outstanding shares of CAME, a microfinance company with presence in 31 states of the Mexican Republic, with more than 230 branches and 2.3 billion pesos in loan portfolio.
Te Creemos, S.A. de C.V. Sociedad Financiera Popular provides financial products and services for the low-income population of Mexico. It offers savings accounts; and individual, home improvement, and small and medium enterprise loans. The company also provides communal banking services that include provision of finance for women owned small businesses. It serves businesses engaged in woodworking, furniture, grocery, and textile activities.
Consejo de Asistencia al Microemprededor, founded in 1993, is one of the oldest microfinance entities in Mexico. Prior to the acquisition it was the fourth largest microfinance company in the country.