Multibank Colombia (IIC-12175-01)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Colombia
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 31, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Banco Multibank S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 4.97 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 14000
Converted using 2018-04-09 exchange rate.
Project Cost (USD)
$ 14.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 40000
Converted using 2018-04-09 exchange rate.
Primary Source

Original disclosure @ IIC website

Updated in EWS Sep 20, 2018

Disclosed by Bank Apr 9, 2018

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Project Description

According to IIC website, Banco Multibank S.A. is a Colombian bank established in 2015 with the objective of specializing in the financing of small and medium enterprises. The project aims to support Banco Multibank in a bond issue of COP$40,000.000 through a partial credit guarantee of up to COP$14,000.000. The bond issue will be registered in the Colombian Stock Exchange with a tenor up to three years.

Investment Description
  • IDB Invest
Private Actors

Banco Multibank S.A. provides various financial products and services in Colombia. The company offers savings and current accounts; deposit products; small business, personal, car, pledge, and mortgage loans; and insurance products.

Contact Information

Project Contact: Marcela Bernal Peña
Gerente de Tesorería, Multibank
Phone number: (571) 608 00 33 Ext: 8313
Email Address: marcela.bernal@multibank.com.co

ACCOUNTABILITY MECHANISM OF IIC

The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IIC)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IIC is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).