I&M Bank (T) Limited
Status: Investment in contracting phaseWhy 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 prospective customer?
I&M Bank Tanzania is a a commercial bank offering a full range of corporate, SME and retail banking services in Tanzania. They are a subsidiary of I&M Bank Limited, a publicly quoted company at the Nairobi Securities Exchange (NSE).
What is our funding objective?
FMO is providing a USD 10 million senior unsecured term loan to provide long-term stable funding for the bank to grow it's loan portfolio and support it's expansion into the SME segment.
Why do we want to fund this investment?
I&M Tanzania is a long-standing client of FMO and a subsidiary of the I&M Group, a leading financial services group in East Africa. The I&M Group and I&M Tanzania have a dedicated strategy to expanding into the SME segment, which is aligned with FMO's impact objectives.
What is the Environmental and Social categorization rationale?
I&M Tanzania is classified as an E&S Category B in accordance with FMO’s Sustainability Policy and as a result of the bank's small loan portfolio and limited exposure to IFC PS triggered transactions. At the Group level I&M Bank has in place an environmental & social management system (ESMS), which FMO is supporting the bank to review and enhance. The Group is implementing the ESMS across its subsidiaries, which includes I&M Tanzania. As a result, FMO is indirectly supporting the bank in the implementation of it's ESMS.
More investments
| Date | Total FMO financing |
|---|---|
| 3/12/2024 | USD 10.00 MLN |
| 10/25/2021 | USD 12.00 MLN |
- Website customer/investment
- https://www.imbankgroup.com/tz/
- Region
- Africa
- Country
- Tanzania, United Republic of
- Sector
- Financial Institutions
- Publication date
- 7/18/2024
- Deadline for feedback
- 8/17/2024
- 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