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Compartamos Banco Announces Commercial Alliance With Oxxo
PR Newswire, June 3, 2008
MEXICO CITY, June 3 /PRNewswire-FirstCall/ -- Compartamos Banco, S.A. ("Compartamos" or "the Company") (BMV: COMPART) announced today that it has signed a commercial alliance with OXXO, whereby customers of Compartamos Banco may choose to make their loan payments at any OXXO retail location starting today.
The commercial alliance between the two companies is expected to improve customer service, as it facilitates payments for loan customers. Both companies agree that customers will benefit from the added convenience of additional payments locations.
This alliance was made possible by a 4-month pilot program that was carried out in parts of the city of Veracruz. Currently customers of Compartamos may make payments at any of the OXXO locations throughout Mexico.
About Compartamos Banco
Compartamos Banco, S.A., a Mexican bank specialized in microfinance, is the largest lender to microbusiness owners in Latin America. Established in 1990 and headquartered in Mexico City, Compartamos provides small loans to low-income Mexican individuals and business owners, such as craft manufacturers, food vendors and other small businesses. With coverage in over 90% of Mexico, Compartamos works with local and international lenders to secure financing to these market segments, which are currently underserved.
Compartamos Banco shares began trading on the Mexican Stock Exchange on April 25, 2007 under the ticker symbol "COMPART".
About FEMSA Comercio (OXXO)
OXXO is the largest and fastest-growing retail network in Latin America with 5,563 stores open in Mexico at the end of 2007. OXXO is a subsidiary of FEMSA Comercio, one of the main business units of FEMSA, the leading beverage company in Latin America, which has operations in nine countries: Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Argentina and Brazil.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward- looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
For more information, visit http://www.compartamos.com/ or contact: Fernando Alvarez Toca, Chief Financial Officer Maria Teresa Chavira, Investor Relations Compartamos Banco S.A. Insurgentes Sur 553, Mexico City, Mexico T:+52 (55) 5276-7250/7327/7256/6398 investor-relations@compartamos.com Investor Relations firm in New York: Maria Barona / Kenia Vargas i-advize Corporate Communications, Inc. 82 Wall Street, 805, New York T: (212) 406-3691 compartamos@i-advize.com
CONTACT: Fernando Alvarez Toca, Chief Financial Officer, or Maria Teresa Chavira, Investor Relations, both of Compartamos Banco S.A., +011-5255-5276-7250, +011-5255-5276-7327, +011-5255-5276-7256, +011-5255-5276-6398, investor-relations@compartamos.com; or Investor Relations firm in New York, Maria Barona or Kenia Vargas, i-advize Corporate Communications, Inc., +1-212-406-3691, compartamos@i-advize.com, for Compartamos Banco
Web site: http://www.compartamos.com/
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