Project detail - THE CITY BANK LIMITED

THE CITY BANK LIMITED

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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