Multibank is a bank set up in 1987 in Panama. It is the country’s 3rd largest bank with Panamanian capital in terms of assets.
Multibank is historically one of the leading banks in the segment of small and medium-sized enterprises in Panama and has longstanding experience in this sector. SMEs account for over a third of the credit portfolio.
The financing will support a leading player in the financing of SMEs in Panama and provide them with long-term financing.
This project will strengthen ties with one of the country’s strongest banks and support growth in Multibank’s SME portfolio, with an expected increase in the volume of financing for the SME client base (support for some 38 SMEs).
Most of the loans allocated will help improve the production capacity of the country’s SMEs. Indeed, PROPARCO’s financing should allow Multibank to offer a range of long-term credit which is not easily accessible to SMEs on the Panamanian market. In addition, PROPARCO’s financing will help create and maintain direct and indirect jobs (i.e. support for 7,400 jobs). It should be noted that the majority of jobs at Multibank are held by women.