BANCO LA HIPOTECARIA S.A
Status: Approved investmentWhy disclosure?
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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 La Hipotecaria, S.A. is a privately owned Panama based bank that focuses on the financing of the residential housing mortgage segment in Panama and through subsidiaries in El Salvador and Colombia. As of December 2020, the bank has consolidated total assets of USD 946 million and its loan portfolio was distributed 73% in Panama, 16% in El Salvador and 11% in Colombia. Banco La Hipotecaria, S.A. and its subsidiary in El Salvador, La Hipotecaria S.A. de C.V. are both be borrowers of the facility.
What is our funding objective?
This facility is directed to the financing of affordable housing mortgages in Panama and El Salvador, targeting borrowers of middle and middle-low income, a segment that is underserved, supporting economic growth and reducing inequalities.
Why do we fund this investment?
The facility encourages the expansion of access to financial services to the low and medium-low income segments of the Panamanian and Salvadorian communities, particularly needed after the Covid-19 emergency.
What is the Environmental and Social categorization rationale?
The Clients have been categorised as Category C in accordance with FMO’s Sustainability Policy. The Clients’ activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the transaction, La Hipotecaria will continue to comply with Panamanian and Salvadorian E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 6/17/2021 | USD 60.00 MLN |
- Website customer/investment
- http://www.lahipotecaria.com
- Region
- Latin America & The Caribbean
- Country
- Panama
- Sector
- Financial Institutions
- Effective date
- 6/17/2021
- Total FMO financing
- USD 60.00 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) - C