The Inter-American Investment Corporation (IIC) approved a line of credit of US$12 million to Multibank, one of the largest banks in Panama, that will be used to provide financing to SMEs in Panama, as well as to diversify its long-term sources of funding. The proceeds from the line of credit will go toward providing financing to SMEs in Panama, as well as toward helping Multibank diversify its long-term sources of funding.
Multibank Inc. is a bank entity established in 1990. Today, it is one of the largest banks in Panama funded with Panamanian capital. Through local subsidiaries, it provides factoring, financial leasing, trust, insurance, asset management, and brokerage services, among others. Over the years, the bank has built up expertise in services and products aimed at the SME segment, which accounts for 40% of the total corporate portfolio.