Project detail - BCT Bank International S.A.

Who is our customer?

BCT Bank International, S.A. (“BCT Bank”) is a universal private bank based in Panama, with a strong focus on serving the SME and corporate segments—particularly within construction and real estate, commerce, and manufacturing. As of year-end 2025, the bank reported total assets of USD 860 million and a loan portfolio of USD 608 million.

What is our funding objective?

The facility concerns a USD 30 million senior unsecured loan, split into a USD 15 million committed and a USD 15 million uncommitted tranche. 60% of FMO’s financing is directed toward green loans, contributing to the design and deployment of sustainable finance services and products. The remaining 40% supports the bank’s broader SME lending, further enhancing access to finance for a key driver of the Panama economy.

Why do we fund this investment?

SMEs are fundamental to Panama’s economic growth, playing a central role in job creation and contributing significantly to its GDP. Through this transaction, FMO helps strengthen the SME sector and promote inclusive economic development contributing to SDG 8. Furthermore, 60% of the FMO’s investment is labelled as Green as it supports activities that contribute to climate mitigation and/or climate adaptation, contributing to SDG 13, in line with FMO's methodology to determine the green finance attribution. With this, FMO supports BCT Bank’s ongoing efforts to embed sustainable finance into its core business strategy.

What is the Environmental and Social categorization rationale?

The client is categorized as E&S Category A in accordance with FMO’s Sustainability Policy, based on its exposure to sectors with potentially significant adverse environmental and social (E&S) risks, such as construction, real estate, agriculture, and manufacturing. In addition, the fact that BCT Bank’s portfolio operates across two countries (Panama and Costa Rica) increases the complexity of E&S risk management. BCT Bank International is in the process of implementing an Environmental and Social Management System (ESMS) for its operations in Panama, based on the Group-level ESMS. The system is supported by a combination of local and Group-level E&S specialists. An E&S Action Plan has been agreed upon to strengthen the rollout of the E&S Risk Management System. As part of the transaction, BCT Bank has agreed to apply the EDFI Exclusion List, comply with applicable local E&S laws and regulations, and implement the IFC Performance Standards for relevant transactions.