I AND M BANK LIMITED
Status: Completed investmentWhy disclosure?
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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
I&M Bank is a commercial bank headquartered in Kenya, with a growing regional presence. The contracting party will be I&M Bank Ltd. Kenya, but the project will focus more broadly to include I&M Bank Rwanda and I&M Bank Tanzania. I&M Bank Ltd's highest impact is through the provision of long-term USD funding to exporting SMEs in Kenya. The bank is still growing its loan portfolio in this area.
What is our funding objective?
With capacity development support, I&M Bank Ltd. in combination with its subsidiaries in Tanzania and Rwanda will implement an aligned and automated Anti-Money Laundering/Know Your Customer system. Since the expansion of business has occurred across the regional group including Rwanda and Tanzania, it is critical that the AML processes are harmonized to allow for adequate monitoring across the entire group.
Why do we fund this investment?
First of all, we support our clients in professionalizing their operations. Next to that, FMO wants to support entrepreneurs to build a better world, which we do by financing financial institutions that in turn provide services to SMEs. To grow the loan portfolio within the SME sector it is important for the different operations to automate and align the Anti-Money Laundering/Know Your Customer policy to remain compliant with local and international requirements.
More investments
| Date | Total FMO financing |
|---|---|
| 12/16/2022 | EUR 0.03 MLN |
| 6/9/2021 | USD 20.00 MLN |
| 5/4/2021 | USD 15.00 MLN |
| 6/26/2023 | USD 15.00 MLN |
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Effective date
- 12/12/2014
- End date
- 9/1/2016
- Total FMO financing
- EUR 0.05 MLN
- Funding
- FMO NV
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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