Banco de America Central, 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?
The contracting party is Banco de America Central Guatemala (BAC GT) a privately owned universal bank and the 4th largest bank in the country and a member of the BAC-Credomatic Group. BAC GT’s loan book (USD 4.02bln) is divided between enterprise loans (53%) and consumer loans (47%).
What is our funding objective?
Since 2022, BAC Group – to which BAC GT belongs - has been developing a strong climate strategy. BAC GT sees that to be able to successfully execute this strategy it is key to accurately communicate the commercial interest of climate and green finance opportunities. The funding objective is to equip the commercial teams of BAC GT to actively pursue green finance opportunities with customers.
Why do we fund this investment?
To take climate action (SDG 13), FMO is committed to the goals of the Paris Agreement and to reach net-zero by 2050 through a just and inclusive transition. The role of financial institutions such as banks is central in this transition through investing in green energy projects.
More investments
| Date | Total FMO financing |
|---|---|
| 11/24/2022 | USD 200.00 MLN |
| 9/29/2024 | USD 90.00 MLN |
- Region
- Latin America & The Caribbean
- Country
- Guatemala
- Sector
- Financial Institutions
- Publication date
- 12/5/2024
- Effective date
- 11/29/2024
- Total FMO financing
- USD 0.02 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