SIDIAN BANK LIMITEDStatus: Approved investment
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Who is our customer
Sidian Bank Limited ("Sidian") is a full-service commercial bank based in Nairobi, Kenya with majority shareholder Centum Investment Company Limited. It was originally established in 1984 as an MFI NGO under the name K-Rep. Per late 2014, Centum became the majority shareholder of the bank driving its strategy towards a full-fledge SME focused bank.
What is our funding objective?
The proceeds of the loan will be used by Sidian to finance the SME portfolio growth.
Why do we fund this investment?
FMO aspires to build a strong relationship with Sidian along the mutual strategy of sustainable commercial development through financing MSMEs in Kenya's real economy, thereby enabling those companies to invest in their businesses, create jobs and contribute to the overall economic development and growth.
What is the Environmental and Social categorization rationale?
The bank is classified as E&S Category B in accordance with FMO’s Policy. There are no IFC PS Triggered Transactions in the client's portfolio and the high-risk sectors represent less than 5% of the total portfolio. The average loan size is USD 30k, which confirms the bank’s exposure is mostly related to the small SME segment.
- Website customer/investment
- Financial Institutions
- Publication date
- Effective date
- Total FMO financing
- USD 10.00 MLN
- 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)