THE CITY BANK LIMITED
Who is our client
The City Bank Limited (CBL) is a mid-sized private commercial bank incorporated in 1983, being one of the oldest in Bangladesh. It offers a variety of products, with a strong focus on corporate, but offering a wide array of services including SME’s financing, infrastructure financing, retail and agriculture lending and trade financing.
Funding objective
CBL has been participating in the Asian Development Bank (ADB) Trade Finance Program since 2015. FMO intends to provide a USD 10mln trade finance facility to CBL in cooperation with ADB. Purpose of the facility is to support and promote the increasing trade finance activities of the Bank.
Why we fund this project
Bangladesh economy is on the rise with its key sectors generating more direct employment and exporting their products. A trade finance product supports this development. Also, CBL has been a good standing client of FMO since 2012.
Environmental and social rationale
FI-A. The client is classified as FI-A due to exposure of 18% in potentially high-risk sectors (RMG and textile). CBL has a functioning ESMS in place and is working on an upgrade of its ESMS with long term support from FMO and IFC.
More investments
| Date | Total FMO financing |
|---|---|
| 11/17/2016 | USD 30.00 MLN |
- Website client
- http://www.thecitybank.com
- Region
- Asia
- Country
- Bangladesh
- Sector
- Financial Institutions
- Signing date
- 9/14/2018
- Total FMO financing
- USD 10.00 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