Banco Internacional, S.A.

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Project Number: 
GU3781A-02
Expected Consideration Date by the Board: 
05/05/2015
Date Posted: 
03/30/2015
Company: 
Banco Internacional, S.A. ("InterBanco")
Sponsoring Entity: 
Not applicable
Financing Requested: 
Senior loan of up to US$2 million. Subordinated loan of up to US$3 million
Sector: 
Financial Services
Location: 
Guatemala
Country: 
Scope Objective: 

The proceeds will go to fund small and medium-sized enterprises (SMEs) in Guatemala with medium- and long-term loans aimed at modernizing and/or expanding these enterprises.

InterBanco was founded in 1975 by Grupo Fierro. Toward the end of 2012, the bank changed its image and changed its commercial name to InterBanco. The new strategy seeks to turn InterBanco into a medium-sized bank in Guatemala that provides high-quality services. The bank has 59 branches in the country.

Environmental Review: 

This is a category FI-3 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 low risk. To strengthen its assessment of the environmental and social aspects of its transactions, Banco Internacional S.A. attended the IIC’s environmental training workshop for financial intermediaries in 2012 and currently has a environmental and social management system (ESMS) that includes a policy and procedures for environmental and social assessment of its credit transactions. Banco Internacional S.A.’s ESMS shall include a component to ensure that activities financed with IIC funds are not found on the IIC’s list of excluded activities and that they comply with domestic environmental and occupational safety laws and standards. Banco Internacional S.A. shall also submit annual environmental and social performance reports to the IIC.