Summary of Proposed Investment
Project Number
4741
Company Name
BANCO MACRO S.A.
Date SPI Disclosed
May 24, 1995
Country
Argentina
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG LAC
Environmental Category
FI
Previous Events
Approved : Mar 6, 1996
Signed : Jan 31, 1997
Invested : Nov 20, 1997
Project Description
SUMMARY OF PROJECT INFORMATION (SPI)
Project Name Argentina-Banco del Sud, S.A
Region Latin America and Caribbean
Sector Finance
Project No 004741
Projected Board Date June 27, 1995
Company Name Banco del Sud, S.A.
Technical Partner and/or Major Shareholders
Banco del Sud''s shareholders include seven Argentine individuals, of which six are directors of the Bank (40.30%), Banco Nacional de Mexico, S.A., one of Mexico''s two largest banks (43.56%), and minority investors (16.14%).
Project Cost including proposed IFC investment
US$25 million
Location of project and Description of site
Banco del Sud, S.A. is headquartered in Bahía Blanca, Argentina. The sub-projects financed by the credit line will be located throughout Argentina.
Description of Company and Purpose of Project
The project consists of a US$25 million credit line to Banco del Sud, S.A. Banco del Sud, S.A. (the "Bank") is the 11th largest private bank in Argentina with total assets of US$1,141 million as of March 31, 1995. The Bank''s operations are concentrated in the Southern provinces of Argentina. The Bank is listed on the Buenos Aires Stock Exchange. In October 1994, the Bank''s principal shareholders acquired control of Banco Shaw, S.A. from the Spanish bank Banco Espanol de Credito S.A. Banco Shaw, S.A. is the 16th largest bank in Argentina with total assets of US$665 million as of March 31, 1995, and operations concentrated in Buenos Aires. The operations of Banco Shaw. S.A. are expected to be merged with those of the Bank in 1995. The purpose of the project is to provide medium- to long-term financing to Argentine medium-scale private sector enterprises to support the modernization and expansion of their productive capacity.
Environmental Categories and Issues
This is a Financial Intermediary (FI) category project according to IFC''s environmental review procedure. The management team has committed to undertake an environmental review of sub-projects'' operations, and has attended IFC''s Environmental Risk Management training.
Date SPI sent to PIC May 25, 1995
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.
Project Name Argentina-Banco del Sud, S.A
Region Latin America and Caribbean
Sector Finance
Project No 004741
Projected Board Date June 27, 1995
Company Name Banco del Sud, S.A.
Technical Partner and/or Major Shareholders
Banco del Sud''s shareholders include seven Argentine individuals, of which six are directors of the Bank (40.30%), Banco Nacional de Mexico, S.A., one of Mexico''s two largest banks (43.56%), and minority investors (16.14%).
Project Cost including proposed IFC investment
US$25 million
Location of project and Description of site
Banco del Sud, S.A. is headquartered in Bahía Blanca, Argentina. The sub-projects financed by the credit line will be located throughout Argentina.
Description of Company and Purpose of Project
The project consists of a US$25 million credit line to Banco del Sud, S.A. Banco del Sud, S.A. (the "Bank") is the 11th largest private bank in Argentina with total assets of US$1,141 million as of March 31, 1995. The Bank''s operations are concentrated in the Southern provinces of Argentina. The Bank is listed on the Buenos Aires Stock Exchange. In October 1994, the Bank''s principal shareholders acquired control of Banco Shaw, S.A. from the Spanish bank Banco Espanol de Credito S.A. Banco Shaw, S.A. is the 16th largest bank in Argentina with total assets of US$665 million as of March 31, 1995, and operations concentrated in Buenos Aires. The operations of Banco Shaw. S.A. are expected to be merged with those of the Bank in 1995. The purpose of the project is to provide medium- to long-term financing to Argentine medium-scale private sector enterprises to support the modernization and expansion of their productive capacity.
Environmental Categories and Issues
This is a Financial Intermediary (FI) category project according to IFC''s environmental review procedure. The management team has committed to undertake an environmental review of sub-projects'' operations, and has attended IFC''s Environmental Risk Management training.
Date SPI sent to PIC May 25, 1995
For additional Information contact: Corporate Relations Unit - telephone (202) 473-7711 - facsimile: (202) 676-0365.
Sponsor / Cost / Location
Related ESRS/ERS
