BBVA Col SMEs (IFC-40615)

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
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
Mar 15, 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 BILBAO VIZCAYA ARGENTARIA COLOMBIA 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)
$ 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.
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.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 7, 2018

Disclosed by Bank Feb 12, 2018


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Project Description

The proposed project entails an A Loan of up to US$150 million to support the growth of the (i) low and middle-income housing and (ii) Small and Medium-Sized Enterprises (“SMEs”) loan portfolios of Banco Bilbao Vizcaya Argentaria Colombia (“BBVA Colombia” or the “Bank”), a full subsidiary of Banco Bilbao Vizcaya Argentaria (“BBVA”).

Investment Description
  • International Finance Corporation (IFC)
Private Actors
<p class="cls-Normal" dir="ltr"><span class="cls-DefaultParagraphFont">BBVA Colombia ranks as the 4th largest bank in Colombia by gross loans, holding a 10% market share as of September 30, 2017. BBVA Colombia is a universal bank, offering a broad range of products and services and attending all segments: from consumer and SMEs to corporates and investment banking. The Bank operates in Colombia through a network of 527 branches, 1,339 ATMS, 4,755 banking agents and 6,097 employees.</span></p> <p class="cls-Normal" dir="ltr"><span class="cls-DefaultParagraphFont">BBVA is a global financial services group founded in 1857 and engaged in retail banking, wholesale banking, asset management, and private banking. Its diversified business is focused on high-growth markets (including Mexico, Peru, and Colombia), and it relies on technology as a key sustainable competitive advantage. BBVA reports approximately EUR 690 billion in total assets and 72 million customers, through a network of 8,271 branches, as of December 31, 2017.</span></p> <p class="cls-Normal" dir="ltr"><span class="cls-DefaultParagraphFont">BBVA currently holds a direct 95.5% equity stake in BBVA Colombia.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span></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/