According to the IFC, the proposed investment consists of a 5-year senior unsecured loan of up to US$50 million, to Banco Bolivariano C.A. to support the growth of the Bank’s women-owned SME portfolio. The Project is aligned with the objectives of the Banking on Women (BOW) program.
Bolivariano is headquartered in Guayaquil and operates in Ecuador.
The IFC categorized the risk of the project as FI-2.
As stated by the IFC, Banco Bolivariano is the 5th largest bank in Ecuador. The Bank is headquartered in Guayaquil, Ecuador’s largest city, and has been in operation for over 40 years. Since its inception, the activities of the Bank have been primarily oriented towards the corporate and SME segments, with a particular focus on export companies.
Banco Bolivariano has over 300 shareholders; however, the three largest hold 73.3% of the Bank. Sasetaf S.A (59.89%) is controlled by the Segale de Martini and Salazar families, including Gianfranco Segale De Martini, a Bank’s Board Member, and Maria del Rocio Salazar, the Bank's Executive VP. Ownership stake is followed by Desinvest S.A with 7.86%, whose ultimate beneficial shareholder is Claudia Shan, through Imperna Limited, located in New Zealand. The third largest shareholder is Aduincorp with 5.56%, which is controlled by the Guevara and Hidago families.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Banco Bolivariano C.A.:
Francisco Arrata Puente - International Relationships Finance Manager
Phone: +593 4 256 6556 / Ext. 2393
Address: Junin 200 y Panama, Guayaquil, Ecuador
ACCESS TO INFORMATION
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