Original disclosure @ IFC website
Updated in EWS Oct 6, 2022
Disclosed by Bank Sep 30, 2022
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The proposed project entails a total US$300 million financing package to Banistmo S.A. (Banistmo or the Bank) consisting of: (i) an up to US$200 million senior unsecured A loan for IFC’s own account and (ii) an up to US$100 million mobilization package through a B loan and/or parallel loan. The loan proceeds will be used to fund the growth of the Bank’s small and medium-sized enterprises (SMEs) and affordable housing loan portfolios (the Project).
The proposed total project investment is up to US$300 million, consisting of: (i) an up to US$200 million senior unsecured A loan for IFC’s own account and (ii) an up to US$100 million mobilization package through a B loan and/or parallel loan (on a best-efforts basis).
Banistmo has been operating in Panama since 1973 and has one of the largest banking networks in the country, currently ranking as the 2nd largest bank in Panama with a 13.5% market share in terms of total loans. The Bank serves over 457,000 clients leveraging on its traditional network of 43 branches, over 338 ATMs, and over 700 banking agents, as well as its digital channels.
Banistmo was acquired by Bancolombia in 2013 and accounts for about 14% of its total consolidated assets as of June 2022. Bancolombia is the largest bank in Colombia, offering a broad range of financial products and services to a diverse base of entities and individuals with more than 25 million customers and over 147 years of experience.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Grupo Bancolombia||Parent Company||Finance||owns||Banistmo||Client||Finance|
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