Following Norfunds support in Ficohsa Honduras, it has continued growing the partnership by investing also in Ficohsa Guatemala, where it recently purchased 90% equity stake in Banco American Guatemala and has migrated the brand to Ficohsa.
Banco Ficohsa is known for its innovative trend in banking services, providing a wide array of banking products for a diverse customer base. All of the products and services the bank offers are intended to satisfy the most demanding customers. Regarding corporate and retail customers, the bank offers many products such as: CDs, checking and savings account, different types of loans, L/Cs, confirmations, different types of credit cards, international and local factoring, wire transfers, subordinate bonds, FX transactions, corporate loans, bank guarantees, auctions (request of dollars), online banking, money remittances, mortgage loans, commercial loans, automobile loans, etc.
Norfund has invested in Ficohsa to assist in the continuing development of the Financial Industry in the region. Additionally, a key component of Ficohsa’s strategy is to grow in the SME market, which is aligned with Norfund’s mandate. Norfund’s loan will exclusively be used to investments in SMEs and thereby improve their access to funding in Honduras. Ficohsa is a good partner with large breadth in the market to successfully reach the SME segment.