BANCO FIE S.A.
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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 FIE is one of the leading banks specialized in microfinance in Bolivia. It obtained its bank license in 2010 and is owned by CONFIE (54%), DWM Funds (10.8%), Incofin (10.4%) and Oikocredit (6.9%). Total assets amount to around US$ 1.2 bln with core activities in micro-lending, savings products, money transfers, social security payments, tax coverage, and facilitation of remittances. The bank has a high presence in rural areas and is the largest microfinance provider in the country with a market share of 9.7%
What is our funding objective?
The purpose of the two tranches is to enable Banco FIE to provide financing to micro-, small- and medium-sized enterprises in Bolivia. With FMO's funds, Banco FIE will be able to offer more financial services to MSME entrepreneurs in urban, semi-urban, as well as rural areas. This is in line with Banco FIE's strategy to expand further into rural areas to maintain its leading position in the microfinance market.
Why do we fund this investment?
FMO supports Banco FIE to maintain a diversified funding base and to expand its loan portfolio to reach the under-served MSMEs in Bolivia. FMO provides stability on the medium and long term as Banco FIE's funding base is mainly based on local deposits from a favourable, but potentially volatile economic environment.
- Region
- Latin America & The Caribbean
- Country
- Bolivia
- Sector
- Financial Institutions
- Effective date
- 6/28/2013
- End date
- 8/10/2016
- Total FMO financing
- USD 5.00 MLN
- Funding
- FMO NV
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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) - C