Net profit increases while focus on development impact becomes stronger.
New investments HY2013: total EUR 446 million
Profit in first half of 2013: EUR 63 million
FMO, one of the largest European bilateral private sector development banks, made new investments of EUR 446 million in the first half of 2013, a decrease of 22.5% compared to HY2012.
In HY2013, FMO provided financing totaling EUR 446 million to businesses in developing countries helping the private sector create jobs, and strengthening sectors essential for sustainable growth in developing countries, such as the energy, financial and agricultural sectors.
Net profit increased to EUR 63 million (HY2012: EUR 42 million).
Nanno Kleiterp, FMO’s CEO, said: “We are satisfied with the results of the first half of 2013, which have proved once again that developing countries continue to show good investment opportunities. We continue our efforts to increase our impact in emerging markets and developing countries.
"For the second half of 2013, our outlook is neutral. The uncertainty in the financial markets, the slow recovery of the European economy and changing capital flow patterns and monetary implications in emerging and developing markets are the main factors for this outlook. Although the extent of these factors is difficult to predict, we monitor these developments closely. Our current investment portfolio, healthy pipeline and solid capital position enable us to continue in our mission and to create development impact in the future.”
The strong focus on increasing development impact was demonstrated during the first half of the year by several roundtables for sustainable finance that FMO either organized or supported together with local and international partners. Successful meetings were held in Mongolia, Paraguay and Bangladesh leading to concrete steps and action plans on sustainable development objectives.
About FMO
FMO (the Netherlands Development Finance Company) is the Dutch development bank. FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 6.3 billion, FMO is one of the largest European bilateral private sector development banks. www.fmo.nl
Press contact:
Paul Hartogsveld
Communications Advisor (PR)
T: +31 70 314 9928
M: +31 6 11589127
E: p.hartogsveld@fmo.nl
