Banco para la produccion y la comercializacion SA
BIO has granted a USD 4 M loan to Banco para la produccion y la comercializacion SA (Bancop), a cooperative bank in Paraguay.
Amount
€ 3,362,807.00
Type of investment
Debt
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Financial inclusion
- Food security & rural development
Beneficiary locations
Investment field
Financial Institutions
Activity
Commercial Bank
Organisation
Banco para la Comercialización y la Producción SA
Website
https://www.bancop.com.py/Domicile
Banco para la Comercialización y la Producción SA (BANCOP) is a cooperative bank providing financial services for other cooperatives, small to medium enterprises (SMEs) and rural producers. Its members are 27 production cooperatives operating in the agriculture, livestock and manufacturing sectors.
BANCOP opened its doors in 2012 in Asunción, the capital city. One year later, it opened several branches in busy manufacturing areas throughout Paraguay, enabling the bank to reach producers directly.
Bancop’s shareholders identified this underserved market and created the Bank to respond to these needs having in mind the importance of the productive sector in the Paraguayan economy and the need of providing adequate financial products with competitive conditions to the SMEs in the productive sector.
Despite its focus on SMEs, Bancop is a universal bank and offers the full range of banking products to its clients including internet banking, credit cards, remittances, foreign trade services, etc. The principal loan products offered are business loans (special products for livestock and agriculture producers) and loans for cooperatives. Bancop has developed specific products to finance agriculture and livestock activities having in consideration the unique cycle of the business and also the need of long term products to finance diverse needs (machinery, equipment, irrigation systems, acquisition of land, etc.).
Development impacts
-
Local economic growth
BIOs loan contributes to the expansion of the portfolio of a new bank focused in the productive sectors
BIO's loan proceeds to be earmarked to SMEs
-
Private sector consolidation/innovation
Bancop is the first cooperative bank. The bank is owned by 27 Cooperatives that joined efforts to create a new bank.
Bancarization of new regions in the productive sectors where only cooperatives are present
-
Financial inclusion
The bank offers the full range of banking products to its clients including internet banking, card services and remittances
-
Food security & rural development
The proposed loan will allow Bancop to provide funding to SMEs in the productive sector which are presently under-banked or have only access to credit with disadvantageous conditions, which in turn will support livelihood opportunities for a broader portion of the population in the rural areas of Paraguay.
The principal loan products offered are business loans (special products for livestock and agriculture producers) and loan for cooperatives.
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