FIBABANKA A.S
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
Fibabanka A.S., owned by Fiba Holding A.S., is a bank in Turkey offering corporate, commercial, SME, retail and private banking services through a network of 66 branches and 1,214 employees. As of June 2014 Fibabank's total assets amount to TL7.3 billion.
What is our funding objective?
Together with our financing partner, Green For Growth, FMO has provided a greenline to Fibabanka in Turkey. Under the greenline criteria, every investment Fibabanka finances using this credit line must achieve a 20% reduction in energy consumption and/or CO2 emissions. Fibabanka aims to utilize the greenline to finance mainly energy efficiency investments in the tourism and manufacturing sectors.
Why do we fund this investment?
Fibabanka's energy efficiency lending program strives to generate green economic growth. This program falls directly within FMO's own ambitions, reflecting our strategy to support economic growth while stimulating green growth by reducing dependence on fossil fuels and reducing GHG emissions. This investment in Fibabank is strongly aligned with our ambitions to double impact and halve footprint by 2020.
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Financial Institutions
- Effective date
- 9/24/2014
- End date
- 11/1/2019
- Total FMO financing
- EUR 25.00 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