I AND M BANK TANZANIA LIMITED
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
I and M Bank (T) Ltd came into operation in 2010 when I and M Bank Kenya acquired CF Union Bank which had been operating in Tanzania since 2001. I and M Bank (T) Ltd is a commercial bank in Tanzania offering a full range of banking services targeted at corporates, small and medium-sized businesses (SMEs), and individuals.
What is our funding objective?
The long term loan will help I and M Bank (T) Ltd in onward lending to its customers and thereby stimulating economic growth and job creation through development of the SME and mid-corporate sector in the country.
Why do we fund this investment?
This transaction represents an excellent opportunity to expand and deepen FMOs existing partnership with the I and M Group beyond the existing USD 25 million facility with I&M Bank Kenya. The I and M Group started as a financial service company in Kenya in 1974 with a currently growing regional presence in Rwanda, Mauritius and Tanzania. Since the entry of the I and M Group in Tanzania, in 2001 it expanded their branch network to 8 branches spread across the key strategic locations in the country and established a well-known name in the market. I and M Group's focus on SMEs is in line with FMOs strategy to support SMEs as core and vital drivers for countries' growth and development.
More investments
| Date | Total FMO financing |
|---|---|
| 3/12/2024 | USD 10.00 MLN |
| 8/17/2024 | USD 10.00 MLN |
- Website customer/investment
- http://www.imbank.com/tz
- Region
- Africa
- Country
- Tanzania, United Republic of
- Sector
- Financial Institutions
- Effective date
- 12/1/2015
- End date
- 10/25/2021
- Total FMO financing
- USD 12.00 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) - B