WCS Santander Brasil (IFC-39659)

Countries
  • Brazil
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
Proposed
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
Nov 2, 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 SANTANDER BRASIL SA
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.
Loan Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 4, 2018

Disclosed by Bank Oct 3, 2017


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Project Description

The proposed investment (the “Project”) consists of a 1-year straight senior loan for up to US$150 million to Banco Santander Brasil S.A. (“Santander” or the “Bank”). The Project, which can be
renewed twice for up to 3 years at IFC's discretion, will support the Bank's financing of its BRL denominated trade and working capital local portfolios, with special focus on SMEs.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Santander Brasil is a universal bank that focuses on retail services. The Bank conducts its operations by means of portfolios such as commercial, investment, lending and financing, mortgage lending, leasing, credit card operations and FX. Through its subsidiaries, the Bank also operates as a payment institution, leasing, securities, insurance brokerage operations, capitalization and pension plan.

 

The shares of Banco Santander Brasil are listed on NYSE and on Bovespa, with a free float of 10.3%. Santander Brasil is directly (13.8%) and indirectly controlled by Santander Spain, through its subsidiary Grupo Empresarial Santander (28.1%) and Sterrebeeck B.V. (46.9%).

 

Santander has a strong market reputation and is rated, on a global scale, ‘Ba3' (LT Bank Deposits. Ratings affirmed in May 2017, Stable outlook) by Moody's and ‘BB' (Rating affirmed in May 2017, Negative outlook) by S&P 

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/