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Banco de Galicia y Buenos Aires S.A. (2022)
| Signing Date | 19 Mar 2007 |
| Region of Headquarters: | Latin America |
| Current EPFI Reporting Year/Period: | 2022 |
| Institutional Reporting: | Link to Report |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP website.
Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 0
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 0
Project-related Refinance & Project-related Acquisition For Project Finance
This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
This information is required under EP4. EP4 applies for those transactions mandated after 1 October 2020 and that have reached Financial Close by the end of the period being reported.
Implementation of the Equator Principles
Banco de Galicia y Buenos Aires is committed to complying with the Equator Principles as part of its environmental policy in the credit process. In Project Finance and Project Finance Advisory Services, the Equator Principles apply where total project capital costs are US$10 million or more.
For Project related corporate loans, Galicia Bank applies the Principles as a framework for analysis and management of environmental risk in all long-term credit operations where the amount requested is equal to or more than u$s 20 million, a lower threshold that the one suggested in EP. This is because there are very few project related corporate loans requests that equal o exceed the amount of u$s 50 million, and to be able to apply EP to the biggest operations financed by Galicia Bank in Argentina.
An assessment of the environmental and social risks of the project and the client is required to evaluate their commitment, ability, behavior and record in relation to these issues. In projects where the Equator Principles apply, the environmental officer must define the final categorisation of the project according to the level of risk (A, B or C). For projects with category A and if considered, category B, Banco de Galicia requires an independent review carried out by an independent consultant. If deemed appropriate or relevant a monitoring plan will be implemented and environmental covenants will be included in the loan agreement.
Different areas at the Bank are involved in the process. Commercial officers are in direct contact with the client gathering all relevant information and documents; Risk officers perform both credit risk and environmental risk analysis of operation; and the operation is presented at the Boards of Directors’ Committee where the final decision is taken.