Banco Bolivariano C.A.
Status: Completed investmentWhy disclosure?
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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?
Bolivariano is a locally-owned Universal Bank with a strong regional presence in Guayaquil and the coastal region of Ecuador. The bank has a long track record (41 years of operations) and as of March 2020, it has TAs of USD 3.6 bln and ranks #5 in the sector, with a stable share of 8% TAs
What is our funding objective?
Banco Bolivariano and FMO will further develop green lending opportunities in Ecuador as this facility will be 100% dedicated to green projects, in line with FMO's green master list.
Why do we fund this investment?
FMO focuses on fostering sustainable economic growth in emerging economies, whereby green finance products are instruments to help forward-thinking financial institutions take advantage of new market opportunities within their existing portfolio or to acquire new clients.
What is the Environmental and Social categorization rationale?
Banco Bolivariano has been categorized as Category A in accordance with FMO's Sustainability Policy due to its large corporate portfolio as well as financial exposures to sectors with potentially significant and adverse environmental and social risks, such as aquaculture, fishing, agribusiness, and industrial manufacturing. Banco Bolivariano's Environmental and Social (E&S) risks are managed through an existing Environmental and Social Management System (ESMS) operated by a dedicated E&S team. Banco Bolivariano is required to apply the EDFI Exclusion List, Ecuador's E&S laws and regulations, and the IFC Performance Standards for applicable transactions.
More investments
| Date | Total FMO financing |
|---|---|
| 7/22/2022 | USD 30.00 MLN |
| 9/21/2020 | USD 10.00 MLN |
| 10/10/2025 | USD 30.00 MLN |
| 8/1/2025 | USD 20.00 MLN |
- Website customer/investment
- https://www.bolivariano.com/
- Region
- Latin America & The Caribbean
- Country
- Ecuador
- Sector
- Financial Institutions
- Publication date
- 7/30/2020
- Effective date
- 9/21/2020
- End date
- 10/10/2025
- Total FMO financing
- USD 10.00 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