Banco Pichincha S.A.

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IIC’s Communications Group
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For project inquiries, including environmental and social questions related to an IIC investment, please contact the client or the IIC using the contact information provided above. In addition, project affected communities have access to the IIC Independent Consultation and Investigation Mechanism.
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Project Number: 
CO3985A-01
Expected Consideration Date by the Board: 
06/30/2015
Date Posted: 
05/27/2015
Company: 
Participating Entity: Banco Pichincha S.A.
Sponsoring Entity: 
Not applicable
Financing Requested: 
Investment Requested: Equity investment of up to US$5 million in common shares
Sector: 
Financial Services
Location: 
Colombia
Country: 
Scope Objective: 

The proceeds from the stock issue will be used to expand the bank’s small and medium-sized enterprise (SMEs) portfolio nationally.

Banco Pichincha Colombia is a financial entity that became a bank in 2011. Founded in 1964, the company was acquired by Grupo Pichincha in 1997. Banco Pichincha has a growth strategy that includes technology upgrades, entering new business areas, opening offices, expanding service channels, improving its costs and funding structure, and strengthening its capital.

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 gain a better understanding of the IIC’s requirements, Banco Pichincha S.A. shall attend the environmental training workshop for financial intermediaries offered by the IIC and set up a sustainable management system that includes procedures for analyzing its clients from an environmental point of view. 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.