Summary of Proposed Investment
Project Number
7475
Company Name
Banco General S.A.
Date SPI Disclosed
Dec 16, 1996
Country
Panama
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Mar 31, 1997
Signed : Dec 3, 1997
Invested : Jun 4, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | PANAMA-Banco General S.A. |
| Region | Latin America and the Caribbean |
| Sector |
Projected Board DateFebruary 17, 1997
Company NameBanco General S.A.
Technical Partner and/or Major Shareholders
Banco General S.A. is a wholly owned subsidiary of Empresa General de Inversiones, S.A., a publicly traded Panamanian corporation with assets of US$1.1 billion at the end of 1995.
Project Cost Including proposed IFC investment
US$25 million, all of which would be lent by IFC.
Location of project and Description of site
Panama
Description of Company and Purpose of Project
The project consists of a US$25 million mortgage credit line to Banco General, S.A. , which BGSA will on-lend for residential mortgages. At IFC’s recommendation, BGSA will hire a foreign technical adviser to assist in securitizing part of its mortgage portfolio.
Environmental Category and Issues
This is a Category C project according to IFC’s environmental review procedures. No further environmental review is required.
| Date SPI sent to PIC | December 16, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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