Project detail - PJSCB DAVR BANK


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

PJSCB DAVR Bank, a new client to FMO, is a universal private bank in Uzbekistan. Established in 2001, DAVR holds a 0.9% of the market share in terms of loan portfolio, positioning the bank in No.17 place in a sector dominated by state owned banks. Among private banks only, DAVR stands No.7. The bank operates a network of 7 branches and 65ATMs, and with a workforce of over 800 employees, serves more than 146,000 active customers. DAVR Bank's loan portfolio is primarily focused on the MSME (38% of GLP) and retail (62%) segments.

What is our funding objective?

To support the bank's growth plans in expanding its MSME portfolio, FMO will provide a USD 40m senior unsecured facility (of which USD 20m uncommitted). The facility will be fully earmarked for Reduced Inequalities and Green projects. The facility offers the flexibility of dual currency (in UZS and USD) with DAVR Bank having the option to select the currency prior to disbursement.

Why do we fund this investment?

DAVR Bank will use the proceeds of the FMO loan to finance eligible Green loans to Youth, Female, Agri SMEs, and Micro sub-borrowers.

What is the Environmental and Social categorization rationale?

The project has been categorised as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, DAVR Bank will be required to apply the EDFI Exclusion List and Uzbekistan E&S laws and regulations.

Website customer/investment
Europe & Central Asia
Financial Institutions
Publication date
Effective date
Total FMO financing
USD 20.00 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)