Unibank OJSC
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
Unibank OJSC is a new client to FMO. It is a mid-sized bank in Armenia focusing on MSME and Retail. The bank operates the fourth largest network in the country with ~800 staff.
What is our funding objective?
FMO will act as lender in a 5 year senior unsecured loan. The loan from FMO is up to USD 10 million and will be wholly used to finance women owned MSME customers of Unibank. The loan will contribute for 100% to FMO's Reducing Inequalities target.
Why do we fund this investment?
Reducing inequalities is at the heart of FMO’s strategy. The FMO loan meets the United Nations Sustainable Development Goals supporting women MSME entrepreneurs with access to finance. Furthermore, this loan provides Unibank with stable long term funding, which indirectly contributes to economic development in Armenia.
What is the Environmental and Social categorization rationale?
Low risk, C-category. Unibank has a well-functioning ESMS. Limited exposure to IFC PS triggered transactions, no exclusion list exposure, limited high risk E&S exposure, and an overall small average loan size.
- Website customer/investment
- http://www.unibank.am/hy/
- Region
- Europe & Central Asia
- Country
- Armenia
- Sector
- Financial Institutions
- Publication date
- 7/12/2018
- Effective date
- 9/11/2018
- End date
- 9/19/2023
- Total FMO financing
- USD 5.00 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) - C