Over 2.1 Million Save at the Banco del Bienestar

Out of more than 30 million users with accounts at the Banco del Bienestar, 2.1 million have chosen to open a savings account. Víctor Lamoyi, the director of the institution, mentioned that being the only banking option in 1,000 localities across the country has allowed them to attract between 5% and 7% of these new customers.

“We have a savings and deposit program; we are encouraging people in areas where we are the only bank to open their accounts. Our goal is to continue growing and promote saving, as well as support the distribution of social programs,” Lamoyi stated. He emphasized that the Banco del Bienestar operates with a network of 3,149 branches nationwide and that their app has been downloaded over 30 million times. Currently, the app only allows users to check balances and transactions, but Lamoyi reported that in the coming months they plan to offer a wider range of products for clients and beneficiaries of social programs.

Three Consecutive Years of Profits Lamoyi also announced that the Banco del Bienestar reported profits last year, marking three consecutive years of gains. “We have spent three years showing positive numbers, and fortunately, we have had very good results,” he pointed out. “The bank is solid and robust this year, and our goal is to continue growing and strengthen our social policy.”

The expansion of the Banco del Bienestar and its focus on savings are positive steps toward fostering a stronger financial culture among the population. It is essential that, alongside the growth of their product offerings, financial education programs are developed to help users make informed decisions about their savings and investments. This will not only benefit the bank but also empower communities to achieve better economic stability.