PROJECT

Projects

Summary of Proposed Investment

Project Number

26475

Company Name

Banco Sofisa S/A.

Date SPI Disclosed

Nov 1, 2007

Country

Brazil

Industry

Financial Markets

Projected Board Date

Dec 3, 2007

Status

Completed

Sector

Commercial Banking - General

Department

Global Industry, Financial Markets

Environmental Category

FI

Previous Events

Approved : Dec 21, 2007
Signed : Jan 23, 2008
Invested : Feb 7, 2008

Project Description

Sofisa was established in 1961, acting as a consumer finance company until 1990 when it became a multiple bank. It focuses its activities on the middle market sector, where it has about 1,000 active SME clients, and is expanding its operations towards the retail sector by offering vehicle financing and consigned loans. Sofisa was listed in May 2007 in the Bovespa stock exchange in Sao Paulo (Brazil) and ended June 2007 with R$3.4 billion in assets.

The proceeds of the IFC financing will be used by the bank to expand its lending activities in the middle market segment.

Sponsor / Cost / Location

Development Impact