Banco Consorcio is a Chilean bank controlled by insurance and financial services group Consorcio. It offers products and services in the areas of financing, structured loans, deposits, syndicated loans, factoring, leasing, credit cards, guarantees, mortgage loans, and other domestic and international commercial operations. It was formed as a result of the acquisition of Banco Monex by Consorcio Financiero in 2008, adopting its current name a year later. Since then, it has acquired Consorcio Tarjetas de Crédito (2012) and Consorcio Corredores de Bolsa (2014) from its controller. In 2015, it joined the global trade finance program of the World Bank's private sector arm, the IFC. As part of this program, the Chilean lender will be able to provide trade finance solutions to local exporters and importers in different industries. IFC also provided US$60mn to Banco Consorcio for the financing of non-conventional renewable energy projects in the country.