IDB includes Banco Ficohsa in trade finance program

- Wednesday, November 15, 2006

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The Inter-American Development Bank (IDB) has included Honduran bank Banco Financiera Comercial Hondureña (Ficohsa) as an issuing bank in its regional trade finance facilitation program (TFFP), IDB said in a statement.

Through TFFP, IDB guarantees letters of credit, promissory notes and other financing tools for international trade.

The agreement will support expansion of Banco Ficohsa's trade finance activities with IDB member countries by enabling access to a broader number of international confirming banks participating in the program, the statement said.

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Banco Ficohsa was the first bank in Central America to receive a license for a representative office in Miami. The bank serves corporate clients, market companies and individuals.

Ficohsa ranked fourth in the Honduran banking league with 12% of the loan market at end-June. In terms of deposits, Ficohsa ranked third with 12.4%.

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