In order to discuss challenges and opportunities for Microfinance in Brazil, the Sustainable Finance Thematic Chamber (CTFin) brought together executives from Microcredit and Microinsurance operations of the Chamber's member organizations for lunch at Santander. Representatives from Banco do Brasil, Bradesco, Itaú, Caixa, HSBC, Santander, Bradesco Seguros, BB and Mapfre and Allianz were present.

Topics on the agenda included financial education, entrepreneurship, customer relations, social transformation promoted by inclusion and the need to improve market rules.

After the launch of the study “Microfinance: Microcredit and Microinsurance in Brazil – The role of financial institutions” in 2013, the sector decided to meet to think about how to act together for the growth and scale of this business model.

“The study proves the potential of microfinance mechanisms to minimize social inequality and promote financial inclusion in Brazil, as well as the challenges and gaps to be faced so that these business models gain scale, scope and speed,” explains Fernanda Gimenes, coordinator of CTFin, who hopes to soon develop a project on the topic, which is currently still in the discussion phase.