I&M Bank (T) 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&M Bank Tanzania is wholly owned subsidiary of I&M Holdings Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE). I&M is a commercial bank offering a full range of corporate, SME and retail banking services.
What is our funding objective?
FMO has provided a 5-year USD 15mln loan to strengthen I&M’s funding base with long-term USD financing.
Why do we fund this investment?
I&M is a strong and well-reputed Tier 2 bank in Tanzania and a long-standing client of FMO. FMO is supporting I&M Bank to fund their SME and corporate customers, which are a strong engine in Tanzania’s economy.
What is the Environmental and Social categorization rationale?
Environmental & social risk Category FI-B. This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. As part of this facility, I&M will be required to apply the EDFI Exclusion List and national E&S laws and regulations. At the Group level I&M Bank has in place an environmental & social management system which includes an Environmental and Social Action Plan with the objective to enhance the bank’s environmental & social risk management capacity and its client engagement on environmental & social impacts.
More investments
| Date | Total FMO financing |
|---|---|
| 10/25/2021 | USD 12.00 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
- Publication date
- 9/27/2018
- Effective date
- 12/12/2018
- End date
- 3/12/2024
- Total FMO financing
- USD 10.00 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