BAI TUSHUM BANK OJSC
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
Bai Tushum Bank (“BTB”) is an existing client of FMO since 2014. BTB is a top-10 mid-sized universal bank with focus on MSME/Retail in the Kyrgyz Republic. With ~760 staff the bank operates a countrywide network. Their mission is to help their country, society, citizens and businesses by means of providing understandable, affordable and innovative financial solutions. Originally BTB started as a microfinance company in 1997 and obtained full-fledged banking license in 2012 (first among MFIs in the country to become a regulated bank).
What is our funding objective?
To provide stable medium term funding to finance BTB's loan portfolio and improve the balance sheet structure of the bank. The loan structure includes the option to disburse in local currency and provides for flexibility in the form of a committed tranche and an uncommitted tranche that can be activated at a later moment.
Why do we fund this investment?
This transaction fully supports FMO’s strategic aim to reduce inequalities. The funds will be used to finance a combination of eligible Micro customers, and Women/Youth/Agri SME clients of the bank. FMO provides much needed stable medium term (local currency) funding.
What is the Environmental and Social categorization rationale?
The project has been categorised as Category C in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have minimal or no adverse environmental and social risks and/or impacts. As part of the Project, Bai Tushum Bank will be required to apply the EDFI Exclusion List and (Country) E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 4/19/2022 | USD 5.00 MLN |
| 6/19/2019 | EUR 0.03 MLN |
| 1/21/2020 | USD 10.00 MLN |
- Website customer/investment
- http://www.baitushum.kg/en/
- Region
- Europe & Central Asia
- Country
- Kyrgyzstan
- Sector
- Financial Institutions
- Publication date
- 5/3/2022
- Effective date
- 7/15/2022
- End date
- 4/24/2023
- Total FMO financing
- USD 2.00 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) - C