Summary of Proposed Investment
Project Number
26538
Company Name
GIROS Y FINANZAS COMPANIA DE FINANCIAMIENTO S A
Date SPI Disclosed
Jan 22, 2008
Country
Colombia
Industry
Financial Markets
Projected Board Date
Feb 22, 2008
Status
Completed
Sector
Microfinance and Small Business - Non Commercial Banking
Department
Regional Industry FIG LAC & EUR
Environmental Category
C - No Impact
Previous Events
Approved : Jun 25, 2008
Signed : May 20, 2009
Invested : Oct 6, 2009
Project Description
Giros y Finanzas (GyF or the company) is a Colombian financial institution based in Cali, Colombia. The company offers financial services under five business lines:
- distribution of remittances as agents of Western Union (with an 13% market share in Colombia);
- foreign exchange operations;
- deposits;
- maintaining a trading desk (investing excess cash to give liquidity to the institution); and
- lending.
In the latter, the company grants car loans, leasing, factoring, and other type of consumer loans to money remittance beneficiaries. The majority of this lending is directed to its own clientele, taking advantage of cross-selling opportunities.
- distribution of remittances as agents of Western Union (with an 13% market share in Colombia);
- foreign exchange operations;
- deposits;
- maintaining a trading desk (investing excess cash to give liquidity to the institution); and
- lending.
In the latter, the company grants car loans, leasing, factoring, and other type of consumer loans to money remittance beneficiaries. The majority of this lending is directed to its own clientele, taking advantage of cross-selling opportunities.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Juan Pablo Cruz, President
Calle 4 No. 27 – 52
Cali, Colombia
Telephone: +57 (2) 685-5518
Fax: +57 (2) 680-0135
Calle 4 No. 27 – 52
Cali, Colombia
Telephone: +57 (2) 685-5518
Fax: +57 (2) 680-0135
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