Summary of Proposed Investment
Project Number
7963
Company Name
BANCO DEL SUQUIA SA
Date SPI Disclosed
Mar 3, 1997
Country
Argentina
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Apr 7, 1997
Signed : May 11, 1998
Invested : May 21, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | ARGENTINA-Banco del Suquia |
| Region | Latin America and the Caribbean |
| Sector |
Projected Board DateApril 3, 1997
Company NameBanco del Suquia (Suquia)
Technical Partner and/or Major Shareholders
Banco del Suquia’s largest shareholder is Inversora del Suquia (59.8% of common shares and 79.8% of votes), which is 50.4% controlled by Roggio, S.A., a major, family-owned Argentine construction and public works group and founding shareholder of the bank. The remaining shares are owned by other founding shareholders, Suquia managers, and the general public. Banco del Suquia’s shares are listed on the Buenos Aires stock exchange.
Project Cost Including proposed IFC investment
A US$10 million Subordinated Convertible Loan with a tenor of up to five years.
Location of project and Description of site
Central Argentina (mainly Cordoba, Santa Fe, and Rosario)
Description of Company and Purpose of Project
Banco del Suquia is a medium-sized regional Argentine bank with assets of approximately US$1.0 billion. It is the leading private bank in the province of Cordoba, where it has 20 of its 47 branches and over half of its deposits. Its remaining branches are primarily in the neighboring province of Santa Fe. The proposed facility would provide Tier II capital to support Suquia in developing its business in the central provinces of Argentina. This is consistent with IFC’s efforts to encourage further strengthening of the Argentine banking sector and to help promote growth in the provinces.
Environmental Category and Issues
This is a category “C” project according to IFC’s environmental review procedure. No further environmental review is required.
| Date SPI sent to PIC | March 3, 1997 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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