Banco Davivienda S.A. (IFC-39057)

Countries
  • Colombia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
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
Jan 11, 2017
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 DAVIVIENDA 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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 153.02 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 COP 450,000,000,000
Converted using 2017-04-27 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 16, 2017

Disclosed by Bank Apr 27, 2017


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Project Description
The project entails a Green Bond to be issued by Banco Davivienda S.A. ("Davivienda" or the "Bank") in the Colombian <em>Segundo Mercado, </em>which will be fully subscribed by IFC. The Green Bond proceeds will be used for renewable energy, green building, energy efficiency and cleaner production sub-projects in Colombia.
People Affected By This Project
Through the Project, the Bank is expected to be among the first green bond issuers in the Country, supporting the creation and development of a local green bond market in Colombia.
Investment Description
  • International Finance Corporation (IFC)
Davivienda is the third largest bank in Colombia according to assets and second largest in terms of loans. The Bank also owns regional banking operations in Panama, Costa Rica, Honduras, El Salvador and Miami through a branch. The Bank is majority owned by Grupo Bolivar, through various companies with a 55.1% ownership. The second largest shareholders of the Bank are Inversiones Cusezar S.A. and Inversiones Meggido S.A., with an 8.8% and 8.5% stake, respectively. IFC is also a shareholder in the Bank, with a 1.9% stake. The remaining 25.6% is spread among minority shareholders, including Davivienda's preffered shares listed in the Colombian Stock Exchange.
Contact Information
ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/ CONTACTS Banco Davivienda S.A. Elizabeth C. Uribe Pardo Corporate Finance Manager +(571) 330 0000 Ext. 53670 elizabeth.uribe@grupobolivar.com Avenida El Dorado #68C-61, Piso 9, Bogota, Colombia www.davivienda.com