Scotiabank El Salvador S.A. (“Scotiabank El Salvador”)
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Guevara Sanchez, Marvin
USD $ 15,000,000
Project scope and objective
The project consists of a long-term IIC loan of up to US$15 million to Scotiabank El Salvador. The proceeds of the loan will be used to finance home purchases by middle- and lower-middle-income individuals, and to fund loans for the productive activities of Salvadoran SMEs operating in a variety of economic sectors.
Scotiabank El Salvador is the second largest bank in El Salvador. Its activities focus primarily on lending to individuals, with an emphasis on the residential mortgage financing sector, where it is the market leader. Scotiabank El Salvador serves its customers through its national network of 53 branch offices, 133 automatic teller machines, and 4 secure ATM vestibules.
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