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The proposed investment consists of an up to 5-year Synthetic Risk Transfer (“SRT”) that IFC is analysing to provide approximately BRL706 million (US$141 million) unfunded guarantee to Banco Santander Brasil S.A. (“Santander Brazil” or “the Bank”), an existing IFC client since 2009. The guarantee will cover the credit risk of a portfolio of approximately BRL6.3 billion (US$1.2 billion) of a majority of trade finance loans. The project aims to expand access to climate finance, as the Bank will redeploy capital savings to increase its climate finance portfolio (the “Project”).
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According to the IFC, Santander Brazil is the third largest private bank in Brazil and the only international bank with material scale in the country. With a wide branch network comprised of more than 2,700 branches and points of sales, Santander has a relevant presence in both the retail and wholesale businesses.
Santander Brazil is directly and indirectly controlled by Banco Santander S.A. (89.5%), through its subsidiaries Grupo Empresarial Santander and Sterrebeeck B.V. The Bank is publicly traded in Brazil at the B3 S.A. – Brasil, Bolsa, Balcão stock exchange, with a total free float of 9.62%, and in the United States in the New York stock exchange.
Banco Santander Brasil S.A.
Rafael Fiusa Kakimoto
Head of Capital Management and Profitability
+55 11 981748167
rkakimoto@santander.com.br
Brazil, São Paulo. Avenida Juscelino Kubitschek, 2235 e 224, Zip Code: 13571-410
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