GNB Sudameris

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Project Number: 
CO3807A-05
Expected Consideration Date by the Board: 
09/02/2014
Date Posted: 
08/01/2014
Company: 
Banco GNB Sudameris S.A. (“Sudameris”)
Sponsoring Entity: 
Not applicable
Financing Requested: 
Loan of up to US$20 million
Sector: 
Financial Services
Location: 
Colombia
Country: 
Scope Objective: 

The purpose of the proposed loan is to support the lending activities of the bank in Colombia and those of its subsidiaries in Peru and Paraguay. The proceeds of the loan will be used to finance SME working capital needs and the acquisition of assets in these three countries, in addition to helping the bank diversify its long-term sources of financing.

Sudameris is a niche bank specializing in three main products: business loans, direct-debit loans, and treasury products. Commercial loans (to the SME and corporate sector) make up 53% of its portfolio, and consumer loans, the majority of them direct-debit loans, 47%. Sudameris owns the second largest network of automatic teller machines in Colombia, with more than 2,179 ATMs.

Environmental Review: 

Environmental and Labor Issues:

This is a category FI-2 project according to the IIC’s Environmental and Social Sustainability Policy because the subprojects in the financial intermediary’s current or future portfolio are considered medium risk. To enable the Borrower to better understand the IIC’s requirements, it shall be required to attend the IIC’s environmental training workshop for financial intermediaries. Each subproject will be subject to an environmental review and must comply with domestic environmental and labor laws, regulations, and standards, as well as IIC environmental guidelines. GNB Sudameris must also submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices.