Bancoldex S.A.

Bancóldex is a State owned commercial bank, incorporated as a mixed-capital company (99.8% public and 0.2% private) and operates under the same legal regime as private sector financial institutions. It was established in 1992 as a foreign exchange second tier bank.

Bancóldex as the Colombian Development Bank, provides multi-bank integral solutions in order to help modernize companies in the fields of commerce, industry and tourism, giving priority to Small and Medium Size Enterprises. Bancóldex looks forward to developing an additional core business, besides its financial role, which is promoting innovation and environmental actions within the Colombian Industries.

Bancoldex as a Development Bank

Since 2003, Bancóldex has incorporated a micro, small and medium enterprises focus and has created new products and services in order to consolidate the transformation process from “Ex-Im Bank” to “Entrepreneurial development and Ex-Im Bank”. Examples of actions involved in the implementation of this transformation are the promotion of entrepreneurial modernization, the transformation of the loans terms to cover market unbalances and the increase of regional coverage inside Colombia.

Bancóldex has strengthen its position as development bank by consolidating the offer of financial and non financial products and services to support entrepreneurial modernization, enterprises capitalization, foreign trade, and improve liquidity for enterprises. In order to offer an integral service to the Colombian enterprises, Bancóldex has also developed non financial products as micro-insurances, an entrepreneurial formation program, and information and technical assistance centers in some regions of the country.

In 2009, convinced of the importance of increasing the financial offer for entrepreneurial capitalization, Bancóldex created the Bancóldex Capital Program as an initiative to promote the development of the private equity/venture capital in Colombia. This program has two components: the financial support: investing in fund as a limited partner; and the non financial support: contributing to the industry through training programs, promotion of regulatory changes and encouraging the application of best practices for investors, fund managers and enterprises.

Being aware of the importance of social and environmental matters, Bancóldex has been developing an environmental management model. In 2011 it launched the first credit quote for the improvement of environmental impact of the entrepreneurial sector. It has also assumed a leading role on these matters in the Colombian financial sector.

As a mandate of the Colombian government, Bancóldex has assumed some roles of development agency promoting entrepreneurial innovation.

Key Figures as of December 2013

Total Assets: USD 3.198 million
Net Profit: USD 22 million
Volume of lending: USD 2.014 million