Project detail - BANCO DE LA PRODUCCION S.A. PRODUBANCO

BANCO DE LA PRODUCCION S.A. PRODUBANCO

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Who is our client

Banco de la Produccion S.A. - Produbanco (Produbanco) is a universal bank in Ecuador, owned by the Promerica financial group - a long standing client of FMO. Produbanco is the fourth largest bank in Ecuador with Total Assets amounting to USD 3.5 billion.

Funding objective

The USD 54 million syndicated term facility will be used by Produbanco for on-lending to SMEs in Ecuador.

Why we fund this project

Given its strong market position and portfolio quality, its high quality management team and its strong regional shareholder, Produbanco is an attractive partner for FMO to channel much needed liquidity into the productive sector in Ecuador. Through this facility, FMO realizes its strategic goals to finance SMEs and to catalyze other investors. Given the current macroeconomic situation in the country, providing up to 5-year financing is highly additional.

More investments

Date Total FMO financing
8/29/2018 EUR 0.04 MLN
12/13/2017 USD 15.00 MLN
12/13/2017 USD 15.00 MLN
8/23/2016 USD 10.00 MLN
Region
Latin America & The Caribbean
Country
Ecuador
Sector
Financial Institutions
Signing date
7/14/2016
Total FMO financing
USD 15.00 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