Summary of Proposed Investment
Project Number
29443
Company Name
Banco Daycoval S/A.
Date SPI Disclosed
Mar 26, 2010
Country
Brazil
Industry
Financial Markets
Projected Board Date
May 5, 2010
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 16, 2010
Signed : Jun 22, 2010
Invested : Jun 30, 2010
Project Description
Established as a multiple bank in 1989 and listed at Bovespa stock exchange since June 2007, Banco Daycoval S.A. (“Daycoval” or the “Bank”) is one of the leading mid-sized Brazilian banks operating in the middle market segment. In 2009, Daycoval’s credit portfolio reached R$3.9 billion, with total assets of R$7.1 billion and net income of R$211.1 million.
The project involves the subscription by IFC, of a local currency-indexed note for an amount up to $25 million. The project also includes a B-Loan, for an amount of up to $75 million. The Note and B-Loan proceeds will be used by the Bank to expand its lending activities involving SME companies.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Laercio Schulze
Av. Paulista, 1793
São Paulo – SP, Brazil
Phone: +55 11 3138-0472
Fax: + 55 11 3138-0757
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: 202-974-4384E Mail: Webmaster