Project detail - BANCOP S.A.

BANCOP S.A.

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Who is our client

Banco Para la Comercialización y la Producción S.A. (“Bancop”) is a private universal bank in Paraguay. It is owned by a group of 28 productive cooperatives tied to the country’s agriculture, cattle and agro-industrial sectors. Bancop started operations in 2012 and has been growing rapidly; by YE2017, it had USD 310 mln in total assets and ranked #14 in the Paraguayan market. Its loan portfolio is dedicated to corporates and SMEs active in the gri and cattle value chains.

Funding objective

The up to USD 15 mln 7-year facility is to be on-lent to local SMEs, in line with FMO’s definition.

Why we fund this project

This transaction fits FMO’s strategy of financing economic growth as well as FI LAC’s strategy to support the Paraguayan banking system in strengthening E&S risk management.

Environmental and social rationale

Bancop is categorized as E&S risk B due to its loan portfolio (small average loan size, short tenors & no IFC PS trigger project). An ESAP was agreed to review and upgrade their existing ESMS and to incorporate the E&S sector guides that are developed by the Mesa de Finanzas Sostenibles, with support of FMO.

More investments

Date Total FMO financing
12/13/2021 USD 5.00 MLN
12/13/2021 USD 10.00 MLN
12/17/2020 USD 7.50 MLN
Website client
http://www.bancop.com.py
Region
Latin America & The Caribbean
Country
Paraguay
Sector
Financial Institutions
Signing date
9/21/2018
Total FMO financing
USD 7.50 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