Financiera Independencia Closes Acquisition of Apoyo Economico Familiar

Mar 15, 2011, 16:16 ET from Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.

MEXICO CITY, March 15, 2011 /PRNewswire/ -- Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (BMV: FINDEP; OTC: FNCRY) ("Independencia" or the "Company") a leading Mexican microfinance lender of personal loans to lower income segment individuals and working capital loans through group lending microfinance, announced today that it has successfully closed the acquisition of all of the outstanding shares of Apoyo Economico Familiar S.A. de C.V., SOFOM, E.N.R. ("AEF"), one of the largest unsecured personal lending institutions in Mexico, as announced on December 22, 2010. Through this acquisition, Independencia increased its loan portfolio by Ps.785.6 million, added 96 branches and approximately 110,000 clients.

About Financiera Independencia:

Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R. (Independencia), is a Mexican microfinance lender of personal loans to individuals and working capital loans through group lending microfinance. Independencia provides microcredit loans on an unsecured basis to individuals in the low-income segments in Mexico in urban areas of both the formal and informal economy. As of December 31, 2010, Independencia had a total outstanding loan balance of Ps.5,773.0 million, operated 371 offices in Mexico and Brazil and had a total labor force of 9,763 people. The Company listed on the Mexican Stock Exchange on November 1, 2007, where it trades under the symbol "FINDEP". On November 30, 2009 Independencia launched a sponsored Level I American Depositary Receipt (ADR) program in the United States. Each ADR represents 15 shares of Independencia common stock and trades over-the- counter (OTC). More information can be found at www.findep.mx.

Some of the statements contained in this press release discuss future expectations or state other forward-looking information. Those statements are subject to risks identified in this press release and in Financiera Independencia's filings with the Mexican Stock Exchange. Actual developments could differ significantly from those contemplated in these forward-looking statements. The forward-looking information is based on various factors and was derived using numerous assumptions. Our forward- looking statements speak only as of the date they are made and, except as may be required by applicable law, we do not have an obligation to update or revise them, whether as a result of new information, future or otherwise.

SOURCE Financiera Independencia, S.A.B. de C.V., SOFOM, E.N.R.



RELATED LINKS

http://www.findep.mx