BANCO PICHINCHA C.A.
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
Pichincha is Ecuador’s largest bank with the most extensive branch and ATM networks. It is also the largest player in the mico-, small- and medium-sized enterprise (MSME) market. Pichincha has operations in all 24 provinces of Ecuador, with 303 branches and 9,300 non-banking correspondents.
What is our funding objective?
FMO is providing Pichincha with long-term subordinated debt. The purpose of FMO's funding is to strengthen Pichincha's capital base and to foster the development of the bank's loan portfolio for MSMEs in Ecuador.
Why do we fund this investment?
FMO's loan offers Pichincha scarce long-term funding. In addition, FMO has also catalyzed the involvement of other development finance institutions. On the non-financial side, FMO plans to assist Pichincha in developing their environmental and social management system.
More investments
| Date | Total FMO financing |
|---|---|
| 12/11/2023 | USD 23.29 MLN |
| 11/28/2022 | USD 25.00 MLN |
| 10/24/2024 | USD 25.00 MLN |
| 8/16/2022 | USD 20.00 MLN |
- Website customer/investment
- http://www.pichincha.com
- Region
- Latin America & The Caribbean
- Country
- Ecuador
- Sector
- Financial Institutions
- Effective date
- 12/11/2013
- End date
- 8/16/2022
- Total FMO financing
- USD 20.00 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