Project detail - ODEA BANK A.S.


Status: Approved investment
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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

Odea Bank is a universal mid-sized bank, and despite being established in 2012, ranks among the top 15 banks in Turkey. It has been established by Bank Audi, the largest bank in Lebanon and now active in 11 countries. Turkey is the largest foreign franchise with a focus on mid-size companies with international links and an innovative fintech brand image.

What is our funding objective?

FMO will provide a Trade Finance facility of USD 10 million with issuing bank Odea Bank (Turkey) under the Trade Finance program.

Why do we fund this investment?

Odea Bank needs increased Trade Finance limits to support exporting SMEs in Turkey. Exports are also essential for the country to address its current account challenge (as an energy importing country).

What is the Environmental and Social categorization rationale?

The project has been assessed as Category A in accordance with FMO’s Sustainability Policy. The project’s activities are deemed to have potentially significant and adverse environmental and social risks and/or impacts. Odeabank will be required to apply the EDFI Exclusion List, Turkish E&S laws and regulations and the IFC Performance Standards Framework for the identified triggered transactions.

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Date Total FMO financing
12/15/2020 USD 25.00 MLN
7/24/2017 USD 22.50 MLN
6/21/2022 USD 35.00 MLN
Website customer/investment
Europe & Central Asia
Financial Institutions
Publication date
Effective date
Total FMO financing
USD 7.50 MLN
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)