Banco Davivienda Salvadoreño, S.A.

repaid

The proceeds of this IIC loan to Davivienda ES will be used to provide financing to eligible small and medium-sized enterprises (SMEs) in El Salvador in various sectors of its economy.The financial institution was established as a public bank and was one of the first banks of any kind in the country. It led the way in establishing and developing the Salvadorian financial system and was responsible for issuing the national currency.Toward the beginning of 2006, it was acquired by the Banistmo group. By the end of that year, the Banistmo group was itself acquired by the international financial group HSBC, which changed the bank’s name to to Banco HSBC Salvadoreño. Finally, in 2012, the bank was acquired by Colombia-based Banco Davivienda and became Banco Davivienda Salvadoreño S.A., or Davivienda El Salvador, currently the second largest bank in the local financial system in terms of assets.Davivienda ES has 57 branches throughout the country, 11 in-house mini branches for corporate clients, 12 express branches, a mortgage lending center, and 255 automatic teller machines.