Project detail - THE CITY BANK LIMITED

THE CITY BANK LIMITED

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Who is our client

The CityBank Limited, established in Bangladesh in 1983, is one of the oldest private commercial banks and FMO client since 2012 with good track record. The CityBank Limited is a dynamic bank with focus on corporate lending and SME lending, Retail lending and experienced and strong management. The CityBank Limited's profile offers a solid fundament to broaden services to trade finance, financing of Small and Medium Enterprises and corporate clients, retail and agribusiness activities.

Funding objective

The term loan facility provided to The CityBank Limited cements the FMO - The CityBank Limited relation, supports the foreign currency needs of importing and exporting Bangladeshi companies and promotes The CityBank Limited's growing Off Shore Banking Unit activities. As part of our long term partnership, The CityBank Limited agreed upon an Environmental and Social Action Plan which was endorsed by IFC and GCPF and which will take the Environmental and Social Management Systems to the next level.

Why we fund this project

Banks in Bangladesh play a pivotal role promoting economic growth and employment by providing finance to corporates and SMEs. The CityBank Limited is a robustly growing bank in a Lower Middle Income Country where financing of entrepreneurs has a tremendous development impact. The financing will have a positive contribution to at least three of the UN Sustainable Development Goals: SDG 1 (no poverty), 8 (decent work and economic growth) and 12 (responsible consumption and production).

More investments

Date Total FMO financing
9/14/2018 USD 10.00 MLN
Website client
http://www.thecitybank.com
Region
Asia
Country
Bangladesh
Sector
Financial Institutions
Signing date
11/17/2016
Total FMO financing
USD 30.00 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)
A