THE CITY BANK LIMITED
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
The CityBank Limited, established in Bangladesh in 1983, is one of the oldest private commercial banks and FMO client since 2012 with good track record. The CityBank Limited is a dynamic bank with focus on corporate lending and SME lending, Retail lending and experienced and strong management. The CityBank Limited's profile offers a solid fundament to broaden services to trade finance, financing of Small and Medium Enterprises and corporate clients, retail and agribusiness activities.
What is our funding objective?
The term loan facility provided to The CityBank Limited cements the FMO - The CityBank Limited relation, supports the foreign currency needs of importing and exporting Bangladeshi companies and promotes The CityBank Limited's growing Off Shore Banking Unit activities. As part of our long term partnership, The CityBank Limited agreed upon an Environmental and Social Action Plan which was endorsed by IFC and GCPF and which will take the Environmental and Social Management Systems to the next level.
Why do we fund this investment?
Banks in Bangladesh play a pivotal role promoting economic growth and employment by providing finance to corporates and SMEs. The CityBank Limited is a robustly growing bank in a Lower Middle Income Country where financing of entrepreneurs has a tremendous development impact. The financing will have a positive contribution to at least three of the UN Sustainable Development Goals: SDG 1 (no poverty), 8 (decent work and economic growth) and 12 (responsible consumption and production).
More investments
| Date | Total FMO financing |
|---|---|
| 5/25/2021 | USD 10.00 MLN |
- Website customer/investment
- http://www.thecitybank.com
- Region
- Asia
- Country
- Bangladesh
- Sector
- Financial Institutions
- Effective date
- 11/17/2016
- End date
- 11/22/2021
- Total FMO financing
- USD 30.00 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