Lima, Peru, June 30, 2014 — A fund managed
by IFC Asset Management Company is investing $25 million in Banco
Interamericano de Finanzas, S.A. (BanBif), the fifth largest bank in Peru.
$25 million subordinated loan will strengthen BanBif’s capital base and
support the growth of a systemically important bank that has a strategic
focus on small and medium enterprises (SMEs) and consumer finance.
This is the seventh investment in the region for the IFC Capitalization
Fund, a $3 billion fund that was made possible by commitments from IFC
and Japan Bank for International Cooperation (JBIC). It is also the sixth
project overall for IFC with BanBif, including an equity investment in
“This investment strengthens the long-standing partnership between IFC
and BanBif as the bank continues to grow and improve access to finance
said Marcos Brujis, Head of the IFC Capitalization Fund.
IFC’s relationship with BanBif dates back to 2007, when IFC invested its
first subordinated loan in BanBif. Since then, IFC has extended a series
of senior loans and trade lines for the bank, as well as an equity investment
in 2013. The current subordinated debt instrument is expected to further
strengthen the bank’s Tier 2 capital base and help to finance the bank’s
continued plans for sustained growth.
“This new facility is important to support our overall growth strategy,
which focuses in the SME segment, and further strengthens our relationship
with IFC, with whom we have a long-standing partnership,” said Juan Ignacio
de la Vega, CEO of BanBif.
Peru became a member country of IFC in 1956, and IFC has invested a total
billion in the country since then, including $1.1 billion in mobilization.
IFC’s strategy in Peru aims to improve the investment climate and support
key players in Peru’s private sector that can expand services and products
to under-served sectors, like for example expanding access to finance for
micro, small, and medium enterprises, as well as access to housing and
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in more than 100 countries, we use our capital, expertise,
and influence to help eliminate extreme poverty and promote shared prosperity.
In FY13, our investments climbed to an all-time high of nearly $25 billion,
leveraging the power of the private sector to create jobs and tackle the
world’s most pressing development challenges. For more information, visit
About IFC Asset Management Company
IFC Asset Management Company LLC, a wholly-owned subsidiary of IFC, invests
third-party capital, enabling outside investors to benefit from IFC’s
expertise in achieving strong equity returns, as well as positive development
impact in the countries in which it invests. It manages $6.3 billion of
capital across six investment funds.
For more information, visit www.ifcamc.org
About the IFC Capitalization Fund
The IFC Capitalization Fund is a global equity and subordinated debt fund
supported by commitments from IFC and JBIC. It aims to strengthen banks
considered vital to the financial system of emerging markets.
JBIC is a policy-based financial institution wholly owned by the Japanese
government, which has the objective of contributing to the sound development
of Japan and the international economy and society, by conducting financial
operation in the following four fields: Promoting the overseas development
and securement of resources which are important for Japan; Maintaining
and improving the international competitiveness of Japanese industries;
Promoting the overseas business having the purpose of preserving the global
environment, such as preventing global warming; Preventing disruptions
to international financial order or taking appropriate measures with respect
to damages caused by such disruption. For more information, visit www.jbic.go.jp/en.