JSC Terabank
Status: Approved investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
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 customer
JSC Terabank is a universal commercial bank in Georgia focusing on SMEs, retail and digital channels for all banking products.
What is our funding objective?
FMO is providing a GEL loan through the issuance of a USD 15 mln equivalent GEL bond.
Why do we fund this investment?
The proposed transaction is in line with FMO's country-specific strategy of increasing our impact in Georgia through the existing client base which is formed of a selected number of banks and larger MFIs. The loan is in GEL and at least 30% is earmarked for youth with a view to expand this portfolio over time.
What is the Environmental and Social categorization rationale?
The bank is classified as an E&S risk category B with ESMS limited exposure to high-risk sectors (<20%) and currently two IFC PS triggered transactions in the portfolio. Terabank has already developed and implemented an ESMS under guidance of DEG and partially FMO.
More investments
| Date | Total FMO financing |
|---|---|
| 3/22/2022 | EUR 8.50 MLN |
| 5/10/2021 | GEL 34.00 MLN |
| 10/20/2023 | USD 12.50 MLN |
- Website customer/investment
- https://www.terabank.ge/ge/retail
- Region
- Europe & Central Asia
- Country
- Georgia
- Sector
- Financial Institutions
- Publication date
- 2/17/2023
- Effective date
- 5/11/2023
- Total FMO financing
- GEL 45.00 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