PROJECT

Projects

Summary of Investment Information

Project Number

34649

Company Name

Banco Pichincha CA

Date SPI Disclosed

May 23, 2014

Country

Ecuador

Region

Latin America and the Caribbean

Projected Board Date

Jul 2, 2014

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Sep 26, 2014
Signed : Oct 22, 2014
Invested : Dec 19, 2014

Sector

Commercial Banking - General

Project Description

The proposed transaction aims to support Banco Pichincha in Ecuador (“the Bank” or “Pichincha”) through a senior loan which would facilitate resources for existing operations and expansion of its lending to MSMEs and women-owned companies. In addition, the Project would initiate a relationship with Pichincha Group (“the Group”), present in various countries in Latin America, where IFC can collaborate with both investment and advisory services.

Pichincha is the largest commercial bank in Ecuador by assets with a significant presence in the MSME segments, holding the largest market share in microfinance (48%) as of December 2013.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation