SEKERBANK T.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
Sekerbank T.A.S. was founded in 1953 with the small savings of hundreds of thousands of Anatolian sugar beet cooperative farmers with the aim of supporting rural development and the sugar industry. Today, it provides services in the fields of Small Business and Agricultural Banking, Commercial/SME Banking, Corporate Banking, and Retail Banking. With almost 66 percent of its branches located outside of Turkey’s three major cities, Sekerbank has defined its mission as 'Community Banking' with an understanding of broad-based banking. In line with this mission, Sekerbank has brought banking services to segments that do not regularly access such services and also gives priority to projects from many other regions and cities of Anatolia in addition to those from big cities and large companies, thus acquiring a special and distinctive position in the sector thanks to its niche strategy.
What is our funding objective?
FMO provided Sekerbank with a syndicated multi-currency facility with total commitments of around USD 115 million, partially in Turkish Lira. In this facility OPEC Fund for International Development (OFID) joined FMO as parallel lender, while the Korean Development Bank (KDB) and the ACTIAM FMO SME Finance Fund acted as participants. It is the first syndicated loan in Turkey providing a local bank with up to 5 years of commercial funding. The loan will support Sekerbank in providing its clients with green lines to lend into energy efficiency and renewable energy projects, and in supporting Turkish SMEs and businesses in cross border trade activities.
Why do we fund this investment?
By arranging this landmark syndicated transaction, FMO brings Asian banks like KDB to the Turkish financial market. Sekerbank's strong position in SME and green banking together with strict on-lending criteria will ensure that the funds will be channeled to Turkish SMEs and energy efficiency and renewable energy projects.
More investments
| Date | Total FMO financing |
|---|---|
| 12/13/2021 | EUR 15.00 MLN |
| 12/29/2020 | TRY 192.00 MLN |
| 12/29/2020 | EUR 20.00 MLN |
- Website customer/investment
- http://www.sekerbank.com.tr
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Financial Institutions
- Effective date
- 12/10/2015
- End date
- 12/29/2020
- Total FMO financing
- EUR 16.50 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