BANCO DE LA PRODUCCION S.A. PRODUBAStatus: Approved investment
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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 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.
What is our funding objective?
The USD 10 million facility will be used by the bank to onlend to green projects, ranging from renewable energy solutions (i.e. solar panels) to energy efficiency projects in a broad range of sectors.
Why do we fund this investment?
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. In the current macroeconomic situation in the country, providing up to 5-year financing is highly additional. Through this facility, FMO contributes to its strategic goal of halving its footprint, as the projects financed with the proceeds of the loan will have a positive effect on the environment.
|Date||Total FMO financing|
|12/1/2021||USD 38.00 MLN|
|12/1/2021||USD 10.00 MLN|
|5/25/2021||EUR 0.02 MLN|
|11/7/2019||USD 15.00 MLN|
|8/29/2018||EUR 0.04 MLN|
|12/13/2017||USD 15.00 MLN|
|12/13/2017||USD 15.00 MLN|
|7/14/2016||USD 15.00 MLN|
- Latin America & The Caribbean
- Financial Institutions
- Effective date
- Total FMO financing
- USD 10.00 MLN
- 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)