THE CITY 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
The City Bank Limited (CBL) is a mid-sized private commercial bank incorporated in 1983, being one of the oldest in Bangladesh. It offers a variety of products, with a strong focus on corporate, but offering a wide array of services including SME’s financing, infrastructure financing, retail and agriculture lending and trade financing.
What is our funding objective?
CBL has been participating in the Asian Development Bank (ADB) Trade Finance Program since 2015. FMO intends to provide a USD 10mln trade finance facility to CBL in cooperation with ADB. Purpose of the facility is to support and promote the increasing trade finance activities of the Bank.
Why do we fund this investment?
Bangladesh economy is on the rise with its key sectors generating more direct employment and exporting their products. A trade finance product supports this development. Also, CBL has been a good standing client of FMO since 2012.
What is the Environmental and Social categorization rationale?
FI-A. The client is classified as FI-A due to exposure of 18% in potentially high-risk sectors (RMG and textile). CBL has a functioning ESMS in place and is working on an upgrade of its ESMS with long term support from FMO and IFC.
More investments
| Date | Total FMO financing |
|---|---|
| 11/22/2021 | USD 30.00 MLN |
- Website customer/investment
- http://www.thecitybank.com
- Region
- Asia
- Country
- Bangladesh
- Sector
- Financial Institutions
- Publication date
- 8/14/2018
- Effective date
- 9/14/2018
- 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) - A