Banco Popular S.A. is the dominant commercial banker of microcredits in Honduras. IFC, BCIE and Bamboo Capital Partners sold their shareholdings of Banco Popular to Triple Jump via ASN Microkredietfonds, Incofin, BIO Invest, and FMO. BLP, through its Honduran legal team, advised sellers and buyers on the necessary regulatory approval for the sale of shares of an institution supervised by the National Banking and Insurance Commission, as well as carried out the required economic concentration notification of the transaction’s impact.
As the leading microfinance institution in Honduras, Banco Popular has 60,000 clients and constant profitability. In recent years, the bank has expanded into rural areas, where the need for financial services and credit for agricultural businesses is most critical.
The BLP team was led by partner José Miguel Alvarez, with associates Ivis Alvarado, José Villeda and Roy Zavala.