Tegucigalpa, Honduras, October 26,
2011—IFC, a member of the World Bank Group, and Banco Atlántida signed
an agreement to develop the bank’s small and medium enterprise banking
business, an initiative that promises to promote economic growth and job
creation in Honduras.
Supported by the Netherlands-IFC Partnership
Program, the project is expected to result in more than $30 million in
funding to SMEs over five years.
Since 2010, IFC and Banco Atlantida
have partnered to improve the bank’s effectiveness—reducing loan processing
time by 25 percent, increasing the number of staff dedicated to SMEs by
50 percent, and developing new products and processes for three SME segments.
"With IFC’s support, we are implementing
a more holistic strategy, reaching the SME segment and developing high-quality
products and services for increasingly demanding customers,” said Guillermo
Bueso Anduray, CEO of Banco Atlántida. “In the second phase of the project,
we expect to strengthen our capacities to expand our SME operations and
become the Honduran leader in this market niche.”
Dan Shepherd, IFC Program Manager, Advisory
Services in Latin America and the Caribbean said, “Helping SMEs increase
their access to financial markets is a priority for IFC in Honduras as
they play an important role in the local economy,”. “As a partner, we
will continue to assist Banco Atlántida in growing and improving its financial-service
offerings to small and medium businesses, leading to increased economic
opportunities for low-income groups in the country.”
IFC’s Advisory Services business in
Honduras is currently also helping three other financial institutions diversify
their product portfolios, improve efficiency, reduce costs, and strengthen
risk management and corporate governance practices.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.
About Banco Atlántida
Established in 1913, Banco Atlántida
(Bancatlán) is the oldest and the biggest Honduran bank in terms of assets,
portfolio, deposits, and profitability, serving individual consumers, as
well as small and large enterprises with a full range of banking and financial
services. With the use of innovative technology and world-class standards,
the bank provides over 400,000 customers with industry-leading products
and services, and offers unparalleled convenience in Honduras through the
largest network of branches in the country. For more information, visit