Mexican Micro-Lender Compartamos Gets a Facelift Anthony Harrup - WSJ.com
go to original September 21, 2013

MEXICO CITY - Mexican micro-finance company Compartamos SAB is changing its corporate name to Gentera, which it expects will give it greater clarity and flexibility as it continues to pursue expansion, company executives said this week.

Through its Compartamos, Yastas and Aterna units, the company makes small loans to individuals with limited or no access to the banking system, provides payment services at stores and other points-of-sale, and sells micro-insurance policies.

Gentera currently has around 2.8 million customers, including 2.5 million in Mexico and others in Guatemala and Peru, with a loan porfolio of 20.4 billion pesos ($1.6 billion) and a past-due loan rate of 4.2% of total loans.

The decision to rename is a natural follow-on after Compartamos in 2010 created a holding company for the bank - its only business at the time - in order to have a vehicle for acquisitions, Chief Executive Carlos Labarthe said at an event to unveil the new image.

Mr. Labarthe said the structure should eventually help the company sign up more customers in less time.

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