Project detail - BANCO INTERNACIONAL S.A (ECUADOR)

BANCO INTERNACIONAL S.A (ECUADOR)

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Who is our client

Banco Internacional is part of Grupo Fierro, a spanish-owned conglomerate comprising among others our existing client Banbif in Peru. Banco Internacional was established in 1973 and currently has total assets of USD 2.6 billion and a loan portfolio of USD 1.6 billion, ranking 5th in the Ecuadorian banking system with a market share of 9 percent as of January 2016. Banco Internacional was the first Ecuadorian bank to join the SWIFT network in 1981. Banco Internacional is recognized as a safe solid bank focused on corporates and leader in international trade finance. In the challenging current economic environment, Banco Internacional remains a top performer of the Ecuadorian banking system in terms of portfolio quality, efficiency and growth.

Funding objective

FMO invests in the B-tranche of a syndicated transaction of USD 48 million. IFC is in the lead and FMO participates with USD 20 million. Other commercial parties participate with the remaining USD 8 million.

Why we fund this project

In an environment of economic deceleration with limited liquidity, FMO will support the Ecuadorian private sector providing countercyclical liquidity through Banco Internacional.

More investments

Date Total FMO financing
7/31/2020 USD 20.00 MLN
11/27/2018 USD 20.00 MLN
6/21/2017 USD 30.00 MLN
Region
Latin America & The Caribbean
Country
Ecuador
Sector
Financial Institutions
Signing date
5/18/2016
Total FMO financing
USD 20.00 MLN
Fund
FMO
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