Mibanco

What Mibanco does

Mibanco – Banco de la Microempresa S.A. is Peru's leading microfinance bank, founded in 1998 and operating as a wholly-owned subsidiary of Credicorp Ltd. (NYSE: BAP), the country's largest financial services holding company. The bank serves more than 1.9 million active customers across Peru through a network of over 280 physical branches, a mobile app, internet banking, WhatsApp banking, telephone banking, and third-party agent networks (BCP, KasNet, Banco de la Nación). Its core technology infrastructure consists of Temenos Core and Temenos Data Hub deployed on Microsoft Azure, following a 2026 modernization initiative to enable faster product launches and improved credit decisioning analytics.

Mibanco's product portfolio is centered on micro and small business lending (working capital, equipment financing, agricultural loans, commercial premises, debt purchase), complemented by personal and housing loans, a savings account suite (Full Ahorro, Ahorro Negocios, Ahorra y Gana, CTS, Ahorro Mujer), fixed-term deposits, and insurance distribution through Pacífico Seguros (Vida Plus, Microseguro Onco Respaldo, Desgravamen, Multirriesgo). Revenue is generated primarily from interest income on loans with effective annual rates reaching up to 117.76% TCEA for certain microcredit products, supplemented by fees on domestic and international remittances (Western Union), insurance commissions, and deposit-taking activities.

The bank's go-to-market combines sales-led distribution through business advisors at branches with community-led acquisition via financial education programs including Campus Virtual Romero (Fundación Romero), workshops with Fundación Alemana, and the Miconsultor program partnering with five major Peruvian universities. Mibanco also participates in government-backed guarantee programs (Reactiva Perú, FAE-MYPE, Impulso MYPERú via COFIDE) that enable lending to higher-risk micro entrepreneurs. Women-focused products (Crédito Mujer, Ahorro Mujer), the Mibanco Amigo doorstep loan service, and the 2026 WhatsApp banking launch illustrate continued investment in segment-specific and digital acquisition channels. A leadership transition is scheduled for October 1, 2026, with Alejandro Pérez-Reyes Zarak appointed as the new CEO and Head of Microfinance at Credicorp.

Name

Mibanco

Legal name

Mibanco – Banco de la Microempresa S.A.

Website

https://mibanco.com.pe

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Mibanco is Peru's leading microfinance bank and a wholly-owned subsidiary of Credicorp Ltd. (NYSE: BAP), serving over 1.9 million micro and small business owners, women entrepreneurs, and consumers through 280+ branches and digital channels with loans, savings, insurance, and remittance products.

Ownership category

akta.pro rank

Product category

Microfinance Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industries

Microloans & Working Capital Loans (FSAKAGAA), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Agricultural & Rural Microfinance (FSAKAGAG)

Keywords

• Microfinance banking services
• Small business lending
• Consumer credit products
• Savings and deposits
• Financial inclusion services

Headquarters

HQ city

Lima

HQ country

Peru

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income on Loans: Mibanco's primary revenue stream comes from interest charged on micro and small business loans, consumer loans, and credit products. Interest rates vary by product, with effective annual rates reaching up to 117.76% TCEA for certain credit products.
2. Insurance Product Distribution: Mibanco earns commission revenue by distributing insurance products including Vida Plus, Microseguro Onco Respaldo, and Desgravamen through partnerships with Pacifico Seguros.
3. Remittance and Money Transfer Services: Revenue generated from domestic money transfers and international remittance services including Western Union transactions.
4. Deposit Taking and Interest Expenses: Mibanco accepts deposits including savings accounts, CTS accounts, and time deposits, paying interest rates up to 8.5% TREA on deposits.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Mibanco is a microfinance bank that provides credit, savings, insurance, and money transfer products to micro and small business owners, entrepreneurs, and individual consumers across Peru. Its core offerings include working capital and equipment loans for microenterprises, personal consumption loans, housing loans, a range of savings accounts (Full Ahorro, Ahorro Negocios, CTS, fixed-term deposits), multiple insurance products distributed through Pacifico Seguros, and national and international remittance services. The bank distributes these products through over 280 physical branches, mobile and internet banking channels, WhatsApp banking, and third-party agent networks.

Product overview

Mibanco (Banco de la Microempresa S.A.) is Peru's leading microfinance bank and subsidiary of Credicorp, serving over 1.9 million customers with approximately PEN 18.2 billion (USD 5.4 billion) in assets. The company offers a comprehensive suite of microfinance products through multiple channels: business loans (Préstamos) including working capital, equipment financing, and agricultural loans; personal and housing loans; savings accounts (Full Ahorro, Ahorro Negocios, Ahorra y Gana, CTS); and insurance products (Negocio Protegido, Vida Plus, Onco Respaldo, Desgravamen). Digital banking is delivered through the Mibanco Móvil app, Mibanco por Internet, and Mibanco por WhatsApp, with correspondent networks including Red BCP, Red KasNet, and Red Banco de Nación. The bank also operates Edyficar Perú as a mortgage subsidiary and supports financial inclusion through programs like Miconsultor and Campus Virtual Romero.

Differentiator

Problem solved

Functional benefit

Brands

• Mibanco Amigo: A lending service that allows customers to request loans quickly, simply, and securely through WhatsApp or in-person visits to selected branches, targeting microentrepreneurs with loan amounts from S/ 500 to S/ 2,500.
• Mibanco Móvil (App)
• Mibanco por WhatsApp

Products and services

• Préstamos (Business Loans) Microfinance lending products for micro and small businesses including working capital (Capital de trabajo), machinery and equipment (Máquinas y equipos), commercial premises (Locales comerciales), debt purchase (Compra de deuda), agricultural loans (Agropecuarios), market stalls financing (Mercados y galerías comerciales), and SOAT insurance financing. Targeted at micro and small business owners in Peru's formal and informal economy.
• Consumo Personal (Personal Loans) Personal consumption loans including Crédito Mujer (women's credit), Crédito Negocios con destino vehicular (business vehicle loans), Efectivo Altoque Dependiente (dependent cash credit), and Crédito dependiente sin seguro de desgravamen (dependent credit without life insurance). Targeted at individual consumers and employees in Peru.
• Vivienda (Housing Loans) Housing loans for construction (Construcción de vivienda) and home purchase (Casa propia), including Garantía Líquida (liquid guarantee) products. Available to individual customers seeking home financing.
• Ahorro Negocios Business savings account designed for entrepreneurs and business owners to separate personal and business savings with cost-free operations. Targeted at micro and small business owners in Peru.
• Full Ahorro High-yield savings account with a TREA (effective annual rate) of 4.50% for individuals seeking to grow their savings with security and flexibility. Targeted at individual Peruvian consumers.
• Cuenta Corriente Current account for business transactions and operations. Targeted at micro and small business owners.
• Depósito a Plazo Fijo Fixed-term deposits with rates up to 8.5%, available in online and flexible variants for savings growth. Targeted at individual savers and businesses seeking time deposits.
• CTS (Compensación por Tiempo de Servicios) Compensation for time of service account – a mandatory employee benefit in Peru serving as a savings/reserve fund, with full withdrawal available until December 31, 2026 under Law 32322. Targeted at Peruvian employees.
• Ahorra y Gana Savings account with promotional sweepstakes participation, offering chances to win S/.200,000 grand prize and monthly drawings. Targeted at individual savers in Peru.
• Ahorro Mujer Savings account designed specifically for women entrepreneurs. Targeted at female business owners in Peru.
• Mibanco Móvil (Mobile App) Mobile banking application enabling customers to perform loan disbursements, account openings, transfers between Mibanco and interbank accounts, bill payments, service payments, and fixed-term deposit opening from their smartphones.
• Mibanco por Internet (Internet Banking) Online banking platform enabling account management, loan payments, interbank transfers, loan disbursements, service payments, and fixed-term deposit opening. Targeted at individual and business customers with internet access.
• Mibanco por WhatsApp WhatsApp-based banking service allowing customers to check loan approvals, disburse funds, open savings accounts, check balances, transfer money by phone number, and access 24/7 customer support. Targeted at micro and small business owners and individual customers.
• Seguro Negocio Protegido Business protection insurance for microentrepreneurs, including assistance services campaign. Distributed through Pacifico Seguros partnership. Targeted at micro and small business owners.
• Seguro Multirriesgo Multi-risk insurance coverage for business and property protection. Targeted at micro and small business owners.
• Seguro de Desgravamen Life insurance attached to loans covering death and total permanent disability, available in traditional and return variants. Targeted at loan borrowers.
• Vida Plus Life insurance from Pacífico Seguros covering natural or accidental death during policy period, with two plan options (S/7.90 and S/11.90 per month) including preventive health check-ups via teleconsultation. Targeted at individual customers and families.
• Microseguro Onco Respaldo Cancer support microinsurance providing lump sum payment upon cancer diagnosis for borrower or family member (spouse/children), with optional acquisition during credit evaluation or disbursement. Targeted at loan borrowers and their families.
• Seguro Hogar Flex Home insurance product offering flexible coverage for households. Targeted at individual homeowners.
• Giros Nacionales National money transfer service allowing cash delivery to beneficiaries nationwide. Maximum amounts: S/16,000 or US$4,000 for non-clients, S/150,000 or US$50,000 for clients. Free collection at over 280 agencies nationwide. Targeted at individuals and businesses needing domestic money transfers.
• Remesas (International Remittances) International money transfer service to USA, European Union, UK, Argentina, Bolivia, Brazil, Chile, Ecuador, Dominican Republic, Mexico, Paraguay, and Venezuela via Western Union partnership. Maximum per operation: US$999.99 or S/3,499.99 equivalent. Targeted at migrant workers and remittance recipients.
• Miconsultor Advisory program facilitating knowledge exchange between microenterprise owners and university students, with students providing consulting services to strengthen client businesses. Offered in partnership with Pontificia Universidad Católica del Perú, Universidad Andina del Cusco, Universidad Antonio Ruiz de Montoya, Universidad del Pacífico, and Universidad de Piura. Targeted at microenterprise owners seeking business advisory support.
• Campus Virtual Romero Free virtual education platform in partnership with Fundación Romero offering courses on business management and technology use for Mibanco clients and their families. Targeted at microentrepreneurs and their families in Peru.

Quantifiable outcome

• Over 1.9 million active customers served in Peru
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• TemenoscoreTechnology or IntegrationMibanco selected Temenos SaaS to modernize its core banking infrastructure, deploying Temenos Core and Temenos Data Hub on Microsoft Azure. This strategic technology partnership enables digital banking capabilities, modern lending platforms, and data analytics for credit decisioning.
• Microsoft AzurecoreTechnology or IntegrationCloud infrastructure provider for Temenos Core and Temenos Data Hub deployment, enabling scalable and secure banking operations.
• COFIDE (Corporación Financiera de Desarrollo)coreStrategic or Co-development PartnerPartnership with COFIDE for the Impulso MYPE program, a government guarantee program supporting micro and small enterprises in Peru, enabling Mibanco to provide credit to higher-risk borrowers with government backing.
• Pacifico SeguroscoreChannel Partner/ Reseller/ DistributorInsurance distribution partnership offering Vida Plus, Microseguro Onco Respaldo, and Desgravamen insurance products to Mibanco customers.
• Fundación RomerominorStrategic or Co-development PartnerEducational partnership providing Campus Virtual Romero platform for financial education and business skills development for Mibanco customers and entrepreneurs.
• Fundación AlemanaminorStrategic or Co-development PartnerPartnership for financial education workshops helping entrepreneurs develop business and financial management skills.
• Pontificia Universidad Católica del Perú, Universidad Andina del Cusco, Universidad Antonio Ruiz de Montoya, Universidad del Pacífico, Universidad de PiuraminorStrategic or Co-development PartnerMiconsultor program partnerships with major Peruvian universities providing entrepreneurship consulting and support services to students and small business owners.
• Western UnionminorChannel Partner/ Reseller/ DistributorInternational remittance services enabling customers to receive and send money globally through Mibanco branches and accounts.
• BCP and KasNet Agent NetworksminorChannel Partner/ Reseller/ DistributorThird-party agent networks enabling cash deposits, withdrawals, and basic banking transactions at agent locations in underserved communities.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Banco Inter: Brazilian digital-first bank with growing SME and consumer credit operations. Comparable in digital channel strategy targeting underserved customers, though operating in a different geography.
• Nubank: Latin America's largest digital bank with rapidly expanding credit and SMB offerings in Brazil and Mexico. Comparable in digital-first disruption of traditional banking for underserved segments.

Regional players

• Banco Ripley: Peruvian consumer and retail-banking player serving middle-income customers. Tangential overlap with Mibanco's consumer credit and insurance distribution activities.

Direct peers

• Banco Azteca: Latin American bank targeting informal and micro-segment customers with credit, deposits, and remittances. Highly comparable model serving underbanked populations across multiple LatAm countries.
• CrediScotia Financiera: Peruvian microfinance lender also operating under the Credicorp Group, focused on SME and consumer lending. Directly comparable in geography, customer segment, and credit underwriting approach.
• Banco Pichincha: Ecuadorian bank with strong microfinance and SME lending franchises across Andean Latin America. Comparable in target customer and credit-driven micro-banking model.
• Caja Huancayo: Peruvian microfinance institution serving micro and small businesses and individual savers. Direct domestic competitor with similar customer profile and product set.
• Compartamos Banco (Gentera): Mexico's largest microfinance bank, serving microentrepreneurs with credit, savings, and insurance. Closely comparable in product mix, customer segment, and Latin American microfinance DNA to Mibanco.

Others

• IFC (International Finance Corporation) portfolio companies: Multilateral investor reported as having exposure to Mibanco via Credicorp. Relevant peer/investor reference for emerging-market microfinance institutions.

Broad incumbents

• Banco de Crédito del Perú (BCP): Peru's largest universal bank and Mibanco's sibling under Credicorp. Overlaps in SME and consumer lending but serves broader customer tiers, making it a broad incumbent rather than direct microfinance competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/MibancoOficial
• Facebookfacebook.com/MibancoOficial
• Xx.com/mibancope

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mibanco