XACBANK LLC
Who is our client
Xacbank is the fourth largest commercial bank in Mongolia and has been a FMO client since 2007. The Bank has an extensive network of 104 branches and is present in every province in Mongolia. It has a strong social mission that focuses on people, planet and profit. Xacbank originally focused on providing microfinance loans in both rural and urban Mongolia but over the past five years, the bank has moved upmarket and now also finances SMEs and corporates.
Funding objective
Xacbank fulfils an essential role in providing finance to the underserved micro- and MSME segments of Mongolia. FMO's funding will be used to support the growth of the (M)SME portfolio.
Why we fund this project
Due to the challenging Mongolian market conditions, foreign investors' appetite has significantly reduced in the last two years, making FMO funding and syndication efforts additional and impactful.
More investments
| Date | Total FMO financing |
|---|---|
| 12/30/2019 | USD 65.00 MLN |
| 6/28/2019 | USD 10.00 MLN |
| 5/8/2018 | USD 6.00 MLN |
| 1/18/2018 | USD 10.00 MLN |
| 5/31/2016 | USD 5.00 MLN |
- Region
- Asia
- Country
- Mongolia
- Sector
- Financial Institutions
- Signing date
- 5/4/2016
- Total FMO financing
- USD 15.00 MLN
- Fund
- FMO
-
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) - B