Project detail - FIRST NATIONAL BANK ZAMBIA LIMITED

FIRST NATIONAL BANK ZAMBIA LIMITED

Status: Completed investment
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Why disclosure?

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In case of questions

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

FNB Zambia is a registered commercial bank in Zambia, a full subsidiary of FNB which is a division of FirstRand Bank Limited. FNB Zambia was established in April 2009. It now operates in over 23 branches countrywide. It provides services to businesses and individuals across Zambia. The bank employs more than 750 staff and has set a clear growth strategy based on a comprehensive offering of banking services and leveraging on FirstRand's client relationships in the region. FNB Zambia's business focus is primarily local corporates, SME's and retail.

What is our funding objective?

Through the provision of a Tier 2 Capital facility, FMO's funding ensures to further strengthen the Capital base of the bank, enabling it to pursue its growth strategy and more specifically to protect its Capital Adequacy against (adverse) movements in the USD/Kwacha exchange rate.

Why do we fund this investment?

Through our funding, FMO supports a subsidiary of longstanding FMO partner FirstRand Bank in soundly managing its Capital base whilst achieving growth in the loan book which is primarily productive and directed towards SME's in a Low Income Country, contributing to the Sustainable Development Goals.

More investments

Date Total FMO financing
5/4/2021 USD 10.00 MLN
Region
Africa
Country
Zambia
Sector
Financial Institutions
Effective date
11/18/2016
End date
9/6/2022
Total FMO financing
USD 7.50 MLN
Funding
FMO NV
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