Latin America's best bank for SMEs 2019: Bancolombia
Awards for Excellence 2019
The region’s best bank for small and medium-sized enterprises is Bancolombia.
It is unsurprising that the award goes to a bank in Colombia given that the sector is so important to the financial system – 99% of all companies are SMEs and they generate more than 80% of Colombia’s employment and around 50% of GDP.
There are more than three million registered SMEs in the country; Bancolombia banks 1.6 million of them.
In total in 2018, the bank grew SME deposits by 11.3%, loans by 5.7% and net earnings by 11.6%. The bank now has 36% of all SME loans in the country.