Project detail - JSCB HAMKORBANK

JSCB HAMKORBANK

Status: Completed investment
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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

Hamkorbank ("the bank") is the largest privately-owned bank and the 8th largest bank in Uzbekistan, ~5% market share measured by assets (USD ~850 million). With 42 branches and 168 mini banks they operate a countrywide network. The bank's strategy is to focus on Micro, SME and retail customers. The bank is an existing customer of FMO since 2012.

What is our funding objective?

Purpose of the intended facility is to support and promote the increasing trade finance activities of the bank.

Why do we fund this investment?

The improving Uzbekistan economy offers increasing opportunities for trade finance. The bank is an existing FMO customer with a good track record. The proposed facility contributes to economic development in Uzbekistan.

What is the Environmental and Social categorization rationale?

This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. The trade finance activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of this facility, the bank will be required to apply the EDFI Exclusion List and national E&S laws and regulations.

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Website customer/investment
http://www.hamkorbank.uz/
Region
Europe & Central Asia
Country
Uzbekistan
Sector
Financial Institutions
Publication date
3/27/2019
Effective date
5/17/2019
End date
6/8/2021
Total FMO financing
USD 5.00 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