SASFIN BANK LIMITED
Status: Completed 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
Sasfin Bank Ltd. is a commercial bank which specialises in asset backed lending to SMEs. Sasfin was established as a family-owned textile importer in 1951 and shifted toward providing trade finance in 1970. Sasfin obtained its banking license and registered as a commercial bank in 1999. Sasfin Bank is wholly owned by Sasfin Holdings Limited which obtained a listing on the JSE in 1987. The Bank provides secured loans to SMEs in the form of office and capital equipment leases, trade finance, debtor finance, and commercial property finance.
What is our funding objective?
This new funding line will support the growth of Sasfin's SME book. It will further support the bank's stable funding profile. This is especially important in the context of Covid-19 and the challenges faced by South African enterprises.
Why do we fund this investment?
Sasfin Bank is a longstanding partner of FMO. Its strong SME focus, drive towards financial inclusion and innovative spirit, make it a trusted partner in accomplishing FMO's mission to empower South African entrepreneurs.
What is the Environmental and Social categorization rationale?
No significant E&S risks were identified in connection with the new transaction. Sasfin remains a category FI-B client with a well-functioning Environmental and Social Management System.
More investments
| Date | Total FMO financing |
|---|---|
| 5/21/2021 | ZAR 195.00 MLN |
- Region
- Africa
- Country
- South Africa
- Sector
- Financial Institutions
- Effective date
- 9/30/2020
- End date
- 11/1/2022
- Total FMO financing
- ZAR 390.00 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) - B