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Colombia's Bancompartir eyes new markets, double-digit loan growth in 2019

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Colombia's Bancompartir eyes new markets, double-digit loan growth in 2019

Bancompartir SA expects its loan portfolio to grow between 12% and 15% in 2019 as the Colombian bank enters new markets and launches a digital wallet application, La República reported.

In an interview with the publication, Bancompartir President Gregorio Mejía said the bank aims to attract about 60,000 new clients this year, adding to the 540,000 clients it had at the close of 2018.

The company recently started operating in the Colombian municipality of Guateque and has plans to enter new markets in the Colombian towns of La Plata, Santander de Quilichao and San Agustín, the executive said.

He added that the bank will launch a digital wallet application in the first quarter of 2019.

Additionally, Mejía said the bank is targeting investments in technology of close to 20.00 billion Colombian pesos in 2019, compared to about 30.00 billion pesos in 2018.

As of Jan. 15, US$1 was equivalent to 3,136.40 Colombian pesos.