Banco Industrial - Supporting small and medium enterprises in Argentina
Supporting small and medium enterprises in Argentina
Banco Industrial is an Argentinian commercial bank which finances small and medium enterprises (SMEs) mainly in the agribusiness, services and manufacturing industries. The bank, which first became an Oikocredit partner in 2018, also provides loans to individuals.
In Argentina, over half of all formal jobs are created by SMEs and micro businesses. However, SMEs face challenges as they lack access to financing from traditional microfinance institutions and commercial banks.
Oikocredit’s funding of Banco Industrial will strengthen its support to SMEs and their employees, and contribute to generating and sustaining SME employment. The bank also seeks to grow its digital banking operations, including online payments and collections to better serve its SME clients.