Banco de Inversión y Comercio Exterior S.A. (BICE) is the Argentinian Development Bank of Investment and Foreign Trade. BICE was created in 1991 and the Argentinian State is its sole shareholder. The ownership rights are executed by the Ministry of Production.
The mission of BICE is to carry out active and passive operations and to render services of a second floor commercial bank, as well as complementary services and activities. BICE was set up as a second-floor bank, but in 2003 it was allowed to provide direct financial assistance to companies which focus on the productive investment, infrastructure and foreign trade.
In second-floor facilities BICE sets the financial conditions and the characteristics of the different lines (objectives, terms, possible repayment schemes, etc.) and agrees with financial institutions and leasing companies on the channelling mechanisms and signature of contracts/agreements.
BICE is authorized to finance goods and services companies and the public sector. It offers credit lines for investment and foreign trade and it finances those infrastructure works that allow an improvement to the Argentine companies’ productivity.
Since 2015, on request of the government, it has focused on supporting small and medium-sized enterprises (SMEs), i.a. through improvements in pricing and available maturities and by providing adequate reach out to underserved segments of the SME and mid-cap segment in order to build a sustainable financial system for SMEs and mid-caps.
At a glance
- President: Pablo M. Garcia
- Sherpa: Mr Francisco Cabrera
- Location: Buenos Aires
- Website: https://www.bice.com.ar