Project detail - BANCO IMPROSA S.A.

BANCO IMPROSA S.A.

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Who is our client

Banco Improsa is a medium size bank in Costa Rica that focusses mainly on financing the SME segment. It is the 5th largest private bank in Costa Rica with a total asset size of USD 720mln. Its main customers are small and medium sized enterprises in the construction, commerce, services, trade, transport, housing and tourism sector.

Funding objective

With this transaction, FMO further strengthens the growth of Banco Improsa and its loan portfolio in the SME segment.

Why we fund this project

SMEs play a vital role in driving economic growth in the Latin American region as they provide jobs and contribute significantly to the GDP of the region. This facility will strengthen employment and Costa Rican economic activity.

Environmental and social rationale

The project has been categorised as Category B in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Banco Improsa will be required to apply the EDFI Exclusion List and (Country) E&S laws and regulations.

More investments

Date Total FMO financing
2/14/2020 USD 20.00 MLN
5/29/2019 EUR 0.04 MLN
Region
Latin America & The Caribbean
Country
Costa Rica
Sector
Financial Institutions
Signing date
12/12/2018
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