CAME and TeCree merge to form the same sofipo with assets of 7,000 million pesos

Las popular finance companies (sofipos) Microentrepreneur Assistance Council (CAME) y We believe youwill merge, effective as of October 31, to consolidate their operation into a single entity.

It was in March 2018 when TeCree Holding, controller of both sofipos, announced the acquisition of CAME in order to have two popular financial companies under its management. Now, both sofipos have merged to maintain the operation in CAME and thus consolidate assets for more than 7,000 million pesos.

According to the data presented, with said merger, CAME will represent 19% of the assets of the sofipos sector, consolidating itself as the second largest popular finance company, only after Libertad Servicios Financieros, which has a 30% share of the assets. segment of this type of entities.

Likewise, CAME’s delinquency rate will be 2.21%, below the 11.2% recorded by the sofipo sector in general, and it will have a capitalization rate of 247%, which is higher than the minimum required for these entities of 130 percent. .

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It is expected that, with this merger, CAME will serve more than half a million clients, in more than 400 branches.

With this merger, we strengthen our position in assets and capital, to better meet the demand for financial services for the population in Mexico, promote the growth of micro-entrepreneurs and, above all, contribute to improving the quality of life of our clients”, highlighted Pablo Varela, CEO of CAME.

“It is a firm step to consolidate the work of recent years since in a single institution we have more strength and the experience of more than 50 years combined between the two sofipos, gives us an advantage that no one has,” added José Manuel González , general director of We Believe You.

digital perspective

After the sale of CAME to TeCree Holding, this entity began a transformation process and at the beginning of 2022 began to provide digital services through its Techreo application.

“CAME will reach 10 million customers in the next four years, becoming a market leader underpinned by innovation and technology,” the company detailed in a statement.