BANCO BAC SAN JOSE S.A.
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco BAC San Jose S.A. (BAC SJ) is the largest privately-owned bank in Costa Rica and is part of the Central American BAC Credomatic Group, owned by the Colombian Grupo Aval conglomerate. BAC SJ is a long-standing client of FMO and considered as a strategic partner for innovation in the Central American region.
What is our funding objective?
BAC SJ will use this transaction to strengthen its growth and its loan portfolio in the SME segment.
Why do we fund this investment?
SMEs play a vital role in driving economic growth in the Latin American region as they provide jobs and contribute significantly to the GDP of the region. This facility will strengthen employment and Costa Rican economic activity.
What is the Environmental and Social categorization rationale?
BAC San Jose has been categorised as Category B in accordance with FMO’s Sustainability Policy. Some of the bank’s activities are deemed to have potential, significant and adverse environmental and social risks and/or impacts. BAC San Jose will be required to apply the EDFI Exclusion List, Costa Rica E&S laws and regulations and the IFC Performance Standards Framework for the identified Triggered Transactions.
More investments
| Date | Total FMO financing |
|---|---|
| 4/13/2017 | EUR 0.08 MLN |
| 4/4/2023 | USD 5.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Costa Rica
- Sector
- Financial Institutions
- Publication date
- 4/15/2019
- Effective date
- 12/19/2019
- Total FMO financing
- USD 30.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B