Sathapana Bank Plc
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
Sathapana Bank is currently the #6th bank in Cambodia in terms of total assets. Sathapana Bank has developed from MFI into a bank and therefore has an extensive branch network of 168 branches throughout the country. Through these branches they provide access to finance to individuals, small and medium sized enterprises and corporate customers.
What is our funding objective?
FMO's USD 20mln will be used for a USD 40mln facility equally split between OFID and FMO. The funds will support Sathapana in its growth ambition and their focus on MSMEs and the digitization plans. The funds will also improve its stable funding and interest rate profile.
Why do we fund this investment?
With this transaction FMO supports a long-standing, well-performing client to reach out to the MSME sector in Cambodia. Cambodia, with a GDP per capita of USD 1,379, is still on the UN Least Developed Countries list and this transaction is reduced inequalities (SDG 10). The proposed transaction is in line with FI Cambodia strategy to steer from the microfinance sector towards the banking sector. In addition, we will catalyze funds in an efficient transaction with OFID and Actiam.
What is the Environmental and Social categorization rationale?
Sathapana Bank is a E&S category C because the focus of the portfolio is on retail and MSME, the average loan size at this moment is < USD 10,000 and not to high-risk sectors. Sathapana adheres to FMOs exclusion list and national law.
More investments
| Date | Total FMO financing |
|---|---|
| 4/1/2022 | USD 20.00 MLN |
| 10/31/2019 | USD 15.00 MLN |
- Region
- Asia
- Country
- Cambodia
- Sector
- Financial Institutions
- Publication date
- 11/9/2018
- Effective date
- 2/21/2019
- End date
- 2/15/2024
- Total FMO financing
- USD 16.50 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