MS. HELMA PURVINSKA
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
OJSC Hamkorbank (HB) is founded in 1991 and FMO client since 2012. HB is a universal bank offering a wide spectrum of banking services, and is one of the two leading private commercial banks in Uzbekistan. Clientele comprises small and medium enterprises (53 percent), corporates (33 percent) and individuals (14 percent). HB has around 2,000 employees and a country-wide branch network of 35 branches, and 160 outlets (mini-banks).
What is our funding objective?
This project is to develop a strategic Human Resources (HR) Management system to align core HR procedures with the goals of staff policy. Additionally, the aim is to improve the remuneration and motivation systems of the Bank staff.
Why do we fund this investment?
HB has benefitted a lot from its engagement with FMO as it managed to grow significantly over the last two years -in particular in the Small and Medium Enterprises (SME) segment. SME sector development is a key-priority for FMO's MASSIF fund. In line with our financial services to HB, our Capacity Development grant offers guidance for HB’s organisational structure and would implicitly contribute to the country’s SME sector development.
- Region
- Europe & Central Asia
- Country
- Uzbekistan
- Sector
- Financial Institutions
- Effective date
- 1/14/2016
- End date
- 11/28/2018
- Total FMO financing
- EUR 0.04 MLN
- Funding
- MASSIF