Banisi

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Project Number: 
PN3789A-01
Expected Consideration Date by the Board: 
07/14/2015
Date Posted: 
06/12/2015
Company: 
Banisi S.A. (Banisi)
Sponsoring Entity: 
Not applicable
Financing Requested: 
Up to US$3 million
Sector: 
Financial Services
Location: 
Panama City, Republic of Panama
Country: 
Scope Objective: 

The proceeds of this subordinated loan will enable Banisi to increase its Tier II capital and its capacity to provide financing to small and medium-sized enterprises (SMEs) in Panama.

Banisi is a Panamanian banking entity created in 2007 by Banco Guayaquil and operates under a general banking license that enables it to carry out a variety of financial intermediation operations in Panama and abroad. Banisi’s strategy consists of providing clients with the highest standards of service, offering SMEs personalized support and advice, and rendering services that leverage the latest technology, such as its cutting-edge mobile banking technology.

Environmental Review: 

Environmental and Labor Issues:

This is a category FI-3 project according to the IIC’s Environmental and Social Sustainability Policy because of the low risk of the subprojects in the financial intermediary’s current or future portfolio. Banisi will implement its own environmental risk management policy and methodology. In addition, Banisi will be required to ensure that activities financed with IIC funds are not on the IIC’s list of excluded activities and that they comply with domestic environmental and occupational safety standards. Banisi shall also submit annual environmental reports to the IIC indicating the progress made and problems encountered in the implementation of these practices. To enable the borrower to better understand the IIC’s requirements, Banisi will be required to attend the IIC’s environmental training workshop for financial intermediaries.