Banco Interamericano De Finanzas S.A. Receives A Subordinated Loan Of Up To US$6 Million From IIC
05/17/2010Approximately 100 Peruvian SMEs will benefit from this operation
Washington, D.C. - On May 18, 2010, the Inter-American Investment Corporation (IIC) approved a subordinated loan of up to US$6 million to Banco Interamericano de Finanzas S.A. (BIF) in Peru.
BIF is a financial institution under the regulatory authority and oversight of the Superintendencia de Banca y Seguros del Perú. It has 46 branches in Peru’s main cities and carries out financial intermediation activities primarily directed to commercial business. Its current focus is on increasing its client base and becoming a more open bank targeting two promising niches: medium-size businesses, and young professionals and small entrepreneurs. BIF ranks sixth and fifth in the Peruvian financial system in terms of placements and total deposits, respectively.
This operation—the IIC's fourth with BIF—seeks to strengthen BIF's capital base and support its growth through financing for small and medium-size Peruvian companies.
According to IIC Investment Officer Rita Bettiol, "This operation will strengthen the bank’s capital and have a multiplier effect on financing for SMEs, which are a priority in BIF's market and growth strategy."
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int.
Contact: Rita Bettiol
Telephone: (202) 623-1263