But not the kind of screw-you, hatred-filled capitalism now preached North of the Rio Grande. Why not compare the attitude towards the world shown by Citi or Goldman to the attitude of Mexican bank Compartamos (COMPART.mx). Here’s an extract from today’s post from the evergreat Mexfiles featuring this bank. Click through for the rest (you’ll be glad you did).
Given that Compartamos works with the client to assure they are able to pay the loan, what started as a not-for-profit microlending service became a normal business in 2000 and the next year became the first microlender to issue debt in the capital markets. In 2006 it was transformed into a “normal” commercial bank… with one important difference. It’s not only considered one of the best employers in Mexico, it’s doing what banks aren’t supposed to do… turn a healthy profit in an economic slump