Private Joint-Stock Commercial Bank Davr Bank
Status: Approved investmentWhy disclosure?
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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?
DAVR Bank, a client since 2023, is a successful mid-sized bank in Uzbekistan with a focus on micro-, small-, and medium-sized entrepreneurs (MSMEs, 62% of LP) and retail (35% of LP). The bank operates as a universal bank providing all key standard and simple banking products needed by its customer base. As per 2025 Q4, the bank shows healthy key financials with total assets of USD 1,016 mln, total capital of USD 211 mln (CAR 17.2%), and net profit of USD 52.5 mln. In a state-owned dominated banking sector of 35 members, DAVR ranks as the 20th largest bank and the 11th largest private bank measured by total assets. DAVR holds 1.3% of sector assets and 1.5% of sector loans. With 1356 staff (30% female), the bank operates a countrywide network.
What is our funding objective?
To support the bank's growth plans in expanding its MSME portfolio, FMO provides a USD 75 mln senior unsecured facility, of which USD 50 mln initially as committed tranche. The facility is fully earmarked for Reduced Inequalities and Green projects. The facility offers the flexibility of dual-currency (UZS and USD), with the option for DAVR Bank to select the currency prior to disbursement.
Why do we fund this investment?
DAVR Bank uses the proceeds of the FMO loan to finance eligible Green loans to Youth, Female, Agri SMEs, and Micro sub-borrowers. This means that, through this loan, FMO financing contributes to Reducing Inequalities (100% of the facility) and climate actions (100% of the facility). In addition, FMO provides DAVR Bank with medium-term, stable funding in local currency and US dollars.
What is the Environmental and Social categorization rationale?
The investment has been categorised as E&S Category C in accordance with FMO’s Sustainability Policy. The bank's activities are deemed to have minimal or no adverse environmental and social (E&S) risks and/or impacts. As part of the transaction, DAVR Bank is required to apply the EDFI Exclusion List and Uzbekistan E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 3/12/2024 | USD 20.00 MLN |
| 4/2/2026 | USD 50.00 MLN |
- Website customer/investment
- https://davrbank.uz/en
- Region
- Europe & Central Asia
- Country
- Uzbekistan
- Sector
- Financial Institutions
- Publication date
- 2/21/2025
- Effective date
- 4/23/2025
- Total FMO financing
- USD 50.00 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) - C