Finandina Loan 2 (IFC-42526)

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
May 20, 2019
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 FINANDINA 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.
Investment Amount (USD)
$ 50.00 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)
$ 50.00 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 May 10, 2019

Disclosed by Bank Apr 11, 2019


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

The proposed investment consists of a senior loan to Banco Finandina S.A. (“Finandina”, or the “Bank”), to support Finandina’s lending operations to small and medium size enterprises (SMEs) in Colombia and or to expand the Bank’s loan origination through digital channels.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

 Banco Finandina, that has more than 42 years of experience. The Bank is part of the business group Seissa S.A.. Finandina does not have partnerships subordinate and has not held contracts with correspondents non-banking services that the Decree 2233 of 2006. (“Seissa” or the “Sponsor”) who directly and indirectly holds more than 90% of the Bank’s total outstanding capital.

Contact Information

Banco Finandina S.A. 
Duberney Quiñonez 
Gerente Legal 
+57 1 - 651-1919 
duberney.quinones@bancofinandina.com 

www.bancofinandina.com 

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/