Private Joint-Stock Commercial Bank Davr Bank
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
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 prospective customer?
DAVR Bank, a client since 2023, is a successful mid-sized bank in Uzbekistan with focus on MSME (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 their customer base. As per 4Q25 the bank shows healthy key financials with total assets of USD 1,016m, total capital of USD 211m (CAR 17.2%), and net profit of USD 52.5m. In a state-owned dominated banking sector of 35, 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. DAVR Bank is categorized as a Frequent Borrower for which a Frequent Borrower Envelope is in place.
What is our funding objective?
To support the bank's growth plans in expanding its MSME portfolio, FMO will provide a USD 75m senior unsecured facility, of which USD 25m as an uncommitted tranche. The facility will be 100% earmarked for Reduced Inequalities, of which 50% is also eligible as 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 want to fund this investment?
DAVR Bank will use the proceeds of the FMO loan to finance eligible Youth, Female, Agri SMEs, and Micro sub-borrowers, of which 50% is also eligible as Green. This means that through this loan FMO financing will be contributing to Reducing Inequalities (100% of the facility) and climate actions (50% of the facility). In addition, FMO provides DAVR Bank medium term and stable funding available in local currency and USD.
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.
More investments
| Date | Total FMO financing |
|---|---|
| 4/23/2025 | USD 50.00 MLN |
| 3/12/2024 | USD 20.00 MLN |
- Website customer/investment
- https://davrbank.uz/en
- Region
- Europe & Central Asia
- Country
- Uzbekistan
- Sector
- Financial Institutions
- Publication date
- 4/2/2026
- Deadline for feedback
- 5/2/2026
- 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