Ficohsa Bank to Receive $70 Million in Financing

Banco Financiera Comercial Hondurena, S.A. (Ficohsa), one of the leading commercial banks in Honduras, has signed agreements with IFC Capitalization Fund, to receive seventy million dollars in investments to support lending to small and medium enterprises in the country.

IFC Capitalization Fund will invest $32 million in equity, and $38 million in subordinated debt, providing long-term capital resources to Ficosha for its capitalization and expansion plans.

Camilo Atala, Ficohsa CEO and Chairman, said: “IFC’s $70 million to support Banco Ficohsa’s capital base will strengthen our capacity to support small and medium enterprises in Honduras, as well as large projects that are essential for the country’s economic and social development.” He added: “Ficohsa is a leader in sustainability and will continue supporting socially and environmentally sustainable development.”

Ficohsa is a longstanding client of IFC since 2007. IFC provided a $20 million loan to support lending for housing finance, small and medium enterprise loans, and $25 million to support the bank’s import and export finance activity. In addition, IFC has provided advisory services to help strengthen Ficohsa’s corporate governance and lending operations.

Banco Financiera Comercial Hondurena SA (Ficohsa) is a Honduras-based financial institution primarily engaged in the banking sector. The Bank’s services and products include saving accounts, debit and credit cards, consumer and commercial loans, local and international factoring, and tax collection, among others. In cooperation with such companies as Royal Bank of Canada, Wachovia Bank, Banorte, Unicredit and others, Banco Ficohsa has coverage in Europe and America.

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