BANCO FINANCIERA COMERCIAL
Status: Completed 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 Financiera Comercial (Banco Ficohsa) is the largest bank in Honduras with total assets of US$ 2.9bn. Banco Ficohsa is a universal bank servicing corporate, SME and retail segments. The institution is very active in the financing of (renewable) energy projects in the country and the region. Banco Ficohsa is part of Grupo Financiero Ficohsa, S.A. which also has banking operations in Panama, Guatemala and - since recently - Nicaragua. FMO currently holds a 6% equity interest in Banco Ficohsa.
What is our funding objective?
FMO's US$ 30 million A loan will be used for the financing of renewable energy projects, mainly solar power, in Honduras. The B Loan, provided by Banco Latinoamericano de Comercio Exterior (Bladex), will be used to support general portfolio growth. The A/B facility will allow Banco Ficohsa to continue lending to productive sectors in Honduras, including to longer term projects such as in the renewable energy sector.
Why do we fund this investment?
Honduras is one of the poorest countries in Central America and banking penetration is still very limited with a Credit/GDP ratio of 55.2%. Many households remain disconnected from the electricity grid and the energy mix in the country is heavily dependent on fossil fuel. This facility will allow Banco Ficohsa, to increase lending to renewable energy projects. It will thereby support the improvement of Honduras' energy mix and increase the availability of cleaner energy to households and companies within the country.
More investments
| Date | Total FMO financing |
|---|---|
| 7/12/2018 | EUR 0.01 MLN |
- Region
- Latin America & The Caribbean
- Country
- Honduras
- Sector
- Financial Institutions
- Effective date
- 8/27/2015
- End date
- 8/18/2022
- 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) - A