Project detail - BANCO DEL PAIS S.A.

BANCO DEL PAIS S.A.

Status: Completed investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Banco del Pais (Banpais) was founded in 1992 by a group of private investors in San Pedro Sula, the business capital of Honduras. Today Banpais has more than 2,000 employees, 75 branches and with TA of US$1.3 billion (Dec 2012) is the 5th largest bank in Honduras (9% market share in TA). In December 2007 Banpais was acquired by its current majority shareholder (90%) Bicapital Corporation. The remaining 10% is held by 400 private investors. Bicapital is a holding incorporated in Panama and created for the international expansion of Guatemala's largest bank, Banco Industrial.

What is our funding objective?

The US$86 mln syndicated loan increases, diversifies and lengthens Banpais' funding base and strengthens its ability to grow in the small- and medium-sized enterrpise (SME) and microfinance sector in urban and rural areas in Honduras. FMO was mandated as lead arranger and arrranged US$26 million 3-5 years debt from 6 commercial banks in Guatemala and Panama. FMO introduced development finance institutions BIO (US$15 million) and DEG (US$20 million) to Banpais and took US$25 million on its own books.

Why do we fund this investment?

FMO's US$25 million financing supports the much needed private sector development throughout Honduras. The investment also catalyzed US$25 million in commercial funds and mobilized US$35 million in funds from development financing institutions.

Website customer/investment
https://www.banpais.hn/
Region
Latin America & The Caribbean
Country
Honduras
Sector
Financial Institutions
Effective date
12/14/2012
End date
1/20/2021
Total FMO financing
USD 25.00 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B