Summary of Proposed Investment
Project Number
7867
Company Name
HSBC BANK ARGENTINA S.A.
Date SPI Disclosed
Mar 13, 1997
Country
Argentina
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Mar 31, 1997
Signed : Feb 4, 1998
Invested : Apr 7, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Argentina-Banco Roberts NoA Credit Line |
| Region | Latin America and the Caribbean |
| Sector |
Projected Board DateMarch 31, 1997
Company NameBanco Roberts
Technical Partner and/or Major Shareholders
Banco Roberts is part of the Roberts Group, a financial group which also includes insurance, brokerage, and investment banking operations. Its shareholders are Midland Bank (30%) and the Roberts family of Argentina (70%).
Project Cost Including proposed IFC investment
A US$30 million credit facility consisting of three separate but identical credit lines of US$10 million each.
Location of project and Description of site
Northern provinces of Argentina (Tucuman, Salta, Jujuy, Santiago del Estero, Catamarca, La Rioja, Misiones, Chaco, Corrientes, and Formosa)
Description of Company and Purpose of Project
Banco Roberts is a medium sized Argentine bank with total assets of US$2.9 billion at June 30, 1996. Through Banco Roberts’ regional centre in Tucuman and strong presence in the northern provinces of Argentina, IFC would channel medium-term funds to middle-market, second-tier companies in the area. As a complement to private sector reforms in the northern region, IFC’s funds would encourage local businesses to develop new projects requiring longer-term financing, thereby stimulating economic and industrial development in northern Argentina.
Environmental Category and Issues
This is a Financial Intermediary (FI) category project according to IFC’s environmental review procedure. Banco Roberts will be required to undertake an environmental review of eligible investee companies’ operations.
| Date SPI sent to PIC | March 13, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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