PROJECT

Projects

Summary of Investment Information

Project Number

38119

Company Name

BANCO PATAGONIA S.A.

Date SPI Disclosed

Apr 22, 2016

Country

Argentina

Region

Latin America and the Caribbean

Projected Board Date

May 23, 2016

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Sep 3, 2021

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : May 27, 2016
Signed : Jul 1, 2016
Invested : Jul 7, 2016

Sector

Commercial Banking - General

Project Description

The proposed project consists of a 5-year loan for up to US$50 million to be provided by IFC to Banco Patagonia S.A. (the “Bank”) to support its lending activities to export-oriented small and medium enterprises (“SMEs”).
Banco Patagonia is a full service bank, which provides general banking services with significant presence in the retail and SMEs sectors. As of December 2015, Banco Patagonia is the ninth bank in Argentina in terms of assets and loans, with a market share of 3.5%, and tenth in terms of deposits. The Bank has 3,361 employees and more than 1 million active clients.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation