This note focuses on the financial and management challenges MFIs face as they grow and formalize.

On April 20, 2007, Banco Compartamos, a microfinance institution (MFI) that was launched in 1990 and originally funded by grants from various sources, including CGAP, completed a landmark initial public offering (IPO) of its stock.

These notes offer details on CGAP's findings and recommendations as a result of a branchless banking policy and regulatory diagnostic carried out in late 2008 in El Salvador.

This update of CGAP’s 2008 “Diagnostic Report on the Legal and Regulatory Environment for Branchless Banking in Colombia” incorporates research conducted by CGAP in January 2010.