KHAN BANK LLC
Status: Completed investmentWhy disclosure?
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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
Khan Bank LLC (Khan) is Mongolia’s largest commercial bank. Through its extensive network of 537 branches nationwide, Khan provides banking services to an estimated 70% of Mongolian families. The bank provides comprehensive banking services and access to finance to individuals, small and medium sized enterprises and corporate customers in even the most remote areas of Mongolia. Khan is an existing FMO client since 2009 with good track record.
What is our funding objective?
The USD 10mln trade facility guarantee under ADB's trade finance program umbrella will support the bank’s increasing trade finance activities.
Why do we fund this investment?
As trade activities are picking up and trade facility lines for Mongolia banks are still of limited size, ADB's trade finance program will be underwritten with a USD 10mln guarantee.
What is the Environmental and Social categorization rationale?
E&S FI-B. Khan also has (indirect) exposure to high risk sectors. Direct exposure is very limited. The bank has a functioning E&S Management System in place. With Capacity Development support from Co-Lenders, FMO and Khan will work on further improving the ESMS.
More investments
| Date | Total FMO financing |
|---|---|
| 3/16/2023 | USD 35.00 MLN |
| 9/20/2021 | USD 30.85 MLN |
| 9/20/2021 | USD 30.50 MLN |
| 8/3/2023 | USD 42.00 MLN |
| 6/4/2020 | USD 20.00 MLN |
| 6/4/2020 | USD 5.00 MLN |
- Region
- Asia
- Country
- Mongolia
- Sector
- Financial Institutions
- Publication date
- 6/2/2018
- Effective date
- 7/3/2018
- End date
- 5/25/2021
- Total FMO financing
- USD 10.00 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