EQUITY BANK LIMITED
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
Equity Bank Kenya Limited is a wholly owned subsidiary of Equity Group Holdings Limited a listed company at the Nairobi Stock Exchange. Equity Group Holdings Limited has a customer base of more than 12.7 million in 6 East African countries, making it one of the largest commercial banks on the African continent, by customer numbers, offering a full range of corporate, SME and retail banking services.
What is our funding objective?
FMO is providing a USD 25 mln Trade finance facility under the Rabobank Trade finance Enhancement Facility Agreement with FMO, to strengthen Equity’s Trade Finance activities.
Why do we fund this investment?
Equity Bank is a strong and well-reputed Tier 1 bank in Kenya and ARISE investee and former client of FMO. FMO is supporting Equity Bank as part of our strategy to promote and facilitate trade in and between emerging markets in support of economic growth. Kenya is the major Eastern African hub, therefore crucial for east African and global trade. Through this facility, FMO will support job creation, in agriculture, transport, manufacturing and wholesale sectors in Kenya and the eastern African community
What is the Environmental and Social categorization rationale?
This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. The trade finance activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of this facility, Equity Bank will be required to apply the EDFI Exclusion List and national E&S laws and regulations.
More investments
| Date | Total FMO financing |
|---|---|
| 12/17/2021 | USD 25.00 MLN |
| 12/10/2020 | USD 37.50 MLN |
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Publication date
- 5/25/2018
- Effective date
- 6/12/2018
- End date
- 5/7/2021
- Total FMO financing
- USD 25.00 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