Desyfin gets US$2mn subordinated loan from Norwegian development fund

- Wednesday, February 9, 2011

Desyfin gets US$2mn subordinated loan from Norwegian development fund

Costa Rican finance company Financiera Desyfin announced it has received a subordinated loan worth US$2mn from Norwegian development fund Norfund.

In a note released through Costa Rican stock exchange BNV, the company said the loan will be counted as Tier 2 capital.

In June, Desyfin received an equity investment worth US$1mn from the IIC intended to fund lending for SMEs and help the company toward its goal of obtaining a banking license.

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As of the end of 2010, Desyfin had a credit portfolio worth 36.5bn colones (US$73mn), according to the latest figures from financial services regulator Sugef.