Summary of Proposed Investment
Project Number
28822
Company Name
Banco Cooperativo Sicredi S/A.
Date SPI Disclosed
Feb 17, 2011
Country
Brazil
Industry
Financial Markets
Projected Board Date
Apr 29, 2011
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jul 6, 2011
Signed : Dec 7, 2011
Invested : Feb 7, 2013
Project Description
Banco Cooperativo Sicredi S.A. (“Bansicredi” or the “Bank”) is the bank of the Sicredi Cooperative System (“Sicredi” or the “System”). With origins dating back to 1902, Sicredi has evolved from a small network of rural credit cooperatives to a sophisticated financial intermediary, the 6th largest in Brazil in terms of branch network. The Bank serves as an instrument to enhance the solidity of the System, to manage its liquidity, funding, risk, etc, and to standardize credit culture and policies, with the ultimate goal of increasing access to finance of the individuals who are members of the cooperatives of the Sicredi system.
The project, which consists in the provision by IFC of subordinated debt to the Bank, as well as acquiring a participation in its share capital, will support and accelerate the growth of the credit portfolio of cooperatives members of Sicredi.
The project, which consists in the provision by IFC of subordinated debt to the Bank, as well as acquiring a participation in its share capital, will support and accelerate the growth of the credit portfolio of cooperatives members of Sicredi.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Paulino Ramos Rodrigues
Planning and Administrator Officer
Banco Cooperativo Sicredi
Av. Assis Brasil, 3940
Porto Alegre, RS, Brazil CEP 91060-900
Phone: +55 51 3358 7175
Email: paulino@rodrigues@sicredi.com.br
Planning and Administrator Officer
Banco Cooperativo Sicredi
Av. Assis Brasil, 3940
Porto Alegre, RS, Brazil CEP 91060-900
Phone: +55 51 3358 7175
Email: paulino@rodrigues@sicredi.com.br
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