With a World Bank report revealing that some 190 million people lack access to financial services in Latin America, Brazil is facing barriers to inclusion, a wide digital divide, and social inequality. Against this backdrop, Santander plays a key role, with initiatives like Prospera Microcrédito that provide finance, training and help to microentrepreneurs in underserved regions. Having disbursed over 28 billion reais (some 5.3 billion euros) in loans, Santander is driving financial inclusion, transforming lives and promoting sustainable, local economic development.

Some 190 million people in Latin America do not have access to formal financial services, while just 18% of informal workers reach high levels of financial inclusion. This not only hinders economic development but also perpetuates cycles of inequality and social exclusion.

Despite Brazil’s progress in banking service usage — with over 97% of adults having access to an account, according to the central bank —, it continues to face structural issues: regions with low access to credit, persistent informality, gender inequality, and a deep digital divide in rural and peri-urban areas.

With this in mind, Santander views credit as more than a financial tool; it’s also a driver of social transformation. For over 20 years, the bank has followed a pioneering strategy that seeks to integrate into the banking system people who traditionally remained outside of it: microentrepreneurs.

Our purpose led to the creation of Prospera Microcrédito, a programme that promotes financial inclusion and helps boost small businesses across Brazil. The mission is clear: Support the microentrepreneurs who are often invisible to the traditional financial system but who underpin the local economy, generate income and face challenges every day.

Since its inception, Prospera has disbursed over 28 billion reais (some 5.2 billion euros) in microloans to 2.8 million people. In 2023 alone, it had an active portfolio of over 3.3 billion reais and 1.1 million customers, 68% of whom were women.

Beyond the figures, its strength lies within its model. Prospera operates in over 1,700 municipalities, with a vast footprint in historically underserved regions such as the north and northeast. More than 1,400 agents visit customers in their communities. On top of the technology they take with them, they also make the time to listen closely and show empathy. They help, understand and guide, while respecting each entrepreneur’s timeline and providing vital support at the right time. This human presence and closeness is what ensures we provide a personalized, efficient and transformative service.

Because financial inclusion means more than just access to loans, Prospera goes beyond mere financing. Our customers can get current accounts, cards, insurance, Getnet card machines and, most importantly, business training that adapts to their venture.

Through the Avançar platform, we developed a learning ecosystem with online and in-person courses that focus on small businesses’ needs: cash flow, selling online, price setting, and entrepreneurship. In the past year alone, over 9,000 people completed these courses. Because we believe that conscious credit and knowledge go hand in hand, the aim is to boost abilities, not just balance sheets.

And this belief is part of a broader Grupo Santander vision that considers education to be a key tool in reducing inequality, narrowing opportunity gaps and building more inclusive prosperity. In a world where technological disruption and constant change have become the norm, access to lifelong learning is crucial for people to adapt, grow and prosper. That’s why the bank’s commitment to education stretches beyond just one programme or region; it’s part of a global strategy that lists education as a right, a driver of development, and a social transformation tool.

In line with this vision, at Santander we have set ourselves the goal of financially empowering five million people between 2023 and 2026, particularly through financial education initiatives, access to inclusive products and services, and support for vulnerable groups.

In addition to being fair and ethical, this comprehensive approach, which combines credit with financial education, also helps reduce loan default, increase businesses’ resilience, and create a multiplier effect that spills over to local development.

In a world where inequality is getting worse and informality is rife in many emerging economies, models such as Prospera offer a stable path to transformative and sustainable financial inclusion.

Once again, Brazil has served as a testing ground for social innovation within Grupo Santander. Group subsidiaries see Prospera as a benchmark — not just because of its results, but also for its ability to combine profitability and purpose.

Including millions of people financially is not just about being fair. It’s also a smart strategy to build more stable economies, more resilient networks, and a more prosperous society.

Loans, when fair, pertinent and supported, can shape the destiny of a family or even an entire community. That’s what inspires our 1,000-plus Prospera agents every day.

A shining example is that of Neilda, a microentrepreneur from Ceará state and Prospera customer for 25 years. Successive, well-planned loans transformed her small, informal salon into a thriving business. She learned to manage cash flow, boost revenue and capture more clients. Now she can give her daughters a better life.

“I wouldn’t be where I am today without Prospera”, she said. “I learned how to manage my money. I learned to dream again”.

Neilda's story represents thousands of entrepreneurs who are invisible to the traditional financial system but pivotal to the local economic landscape. Though these stories don’t always appear in macroeconomic reports, they clearly reflect the true impact of financial inclusion.

Because every story like Neilda's teaches a powerful lesson; inclusion is not a gesture, it’s a strategic decision. And Santander remains committed to increasing access, providing close support, and reshaping career pathways across Brazil.