BAI TUSHUM BANK CJSC
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Closed Joint Stock Company Bai Tushum Bank (BTB) was established as a non-profit microcredit agency in 2000, with a social mission to finance and service vulnerable groups. The company operates from 7 branches and 55 representative offices (outlets) across the country and received a full banking license in November 2012 - BTB was the first microfinance institution to receive a banking license in Kyrgyzstan. Their main shareholders are ACDI/VOCA and CARITAS, non-profit organizations that are dedicated to poverty alleviation and broad-based economic growth. The bank is headquartered in Bishkek, the capital, and their core business is to finance (M)SMEs, primarily involved in agricultural and trading activities, in rural and urban areas (38% of the borrowers are females). In addition, in a crowded and competitive banking environment like the one in Kyrgyzstan and despite the country's still difficult economic conditions, in May 2014 Bai Tushum became the first bank to receive the SMART Campaign certification.
What is our funding objective?
BTB's mission is strongly aligned with FMO's own development strategy. The present transaction marks an entrance into a long-lasting relationship with BTB by providing them financing. FMO is currently providing a large amount of long-term financing that is not available in the local market.
Why do we fund this investment?
BTB is not only a robust institution with a solid business model, it is also an institution focused on transparency, responsible pricing and ensuring that clients are treated in a fair and responsible manner. BTB aims to become a leading SME bank in Kyrgyzstan. FMO's funding is directed at the bank’s (M)SMEs activities, therefore supporting inclusive finance. Furthermore, by being able to on-lend US dollar loans, BTB will be able to better serve their US dollar-earning clients.
More investments
| Date | Total FMO financing |
|---|---|
| 4/24/2023 | USD 2.00 MLN |
| 4/19/2022 | USD 5.00 MLN |
| 6/19/2019 | EUR 0.03 MLN |
- Website customer/investment
- http://www.baitushum.kg/en/
- Region
- Europe & Central Asia
- Country
- Kyrgyzstan
- Sector
- Financial Institutions
- Effective date
- 8/29/2014
- End date
- 1/21/2020
- Total FMO financing
- USD 10.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C