Summary of Proposed Investment
Project Number
26336
Company Name
Banco Fibra S/A.
Date SPI Disclosed
Jul 25, 2007
Country
Brazil
Industry
Financial Markets
Projected Board Date
Sep 13, 2007
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Date Revised SPI Disclosed
Aug 29, 2007
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Sep 13, 2007
Signed : Sep 17, 2007
Invested : Sep 28, 2007
Project Description
Founded in 1988, Banco Fibra S.A. (Fibra or the Bank) is a leading midsize Brazilian bank with assets of R$9.8 billion ($4.8 billion) as of March 31, 2007. It focuses its activities in commercial lending, with a client base of approximately 950 corporate clients:
- 50% are companies with annual sales between R$30 million and R$100 million (middle market);
- 25% are firms with annual revenues between R$100 million and R$400 million (upper middle market);
- the remaining 25% are considered to be large corporates, which the Bank defines as companies which generate annual gross revenues in excess of BRL 400 million or selected ones in excess of BRL 100 million, but which are characterized by a highly sophisticated and professional management and administration.
The Bank is also active in the consumer finance segment, mainly through operational agreements with medium size retail stores, with approximately 620,000 retail clients and 3,000 sales points as of December 2006. It is also studying the possibility of establishing housing and microfinance operations in the next 12-18 months.
The project entails an up to $210 million financing package to support the expansion of Fibra’s lending activities in the middle-market and consumer segments, and the development of its housing finance and microfinance operations.
- 50% are companies with annual sales between R$30 million and R$100 million (middle market);
- 25% are firms with annual revenues between R$100 million and R$400 million (upper middle market);
- the remaining 25% are considered to be large corporates, which the Bank defines as companies which generate annual gross revenues in excess of BRL 400 million or selected ones in excess of BRL 100 million, but which are characterized by a highly sophisticated and professional management and administration.
The Bank is also active in the consumer finance segment, mainly through operational agreements with medium size retail stores, with approximately 620,000 retail clients and 3,000 sales points as of December 2006. It is also studying the possibility of establishing housing and microfinance operations in the next 12-18 months.
The project entails an up to $210 million financing package to support the expansion of Fibra’s lending activities in the middle-market and consumer segments, and the development of its housing finance and microfinance operations.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Cassio von Gal, Executive Director
Av. Brig. Faria Lima, 3729 – 11º andar
04538-905 Sao Paulo – SP
Telephone: 11-3874-6903
Fax: 11-3847-6770
Av. Brig. Faria Lima, 3729 – 11º andar
04538-905 Sao Paulo – SP
Telephone: 11-3874-6903
Fax: 11-3847-6770
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster