Fibabanka Equity (IFC-36167)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 28, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
FIBABANKA A S
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 12, 2015


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Project Description

This project finances an equity investment in Fibabanka, a medium-sized bank in Turkey with a focus on small and medium-sized enterprises, to support it in implementing its growth strategy in order to increase access to finance for micro, small, and medium-sized enterprises in Turkey.

Investment Description
  • International Finance Corporation (IFC)

This project involves an equity investment for up to 10% stake in Fibabanka on IFC’s own account. Fibabanka is 98.6% owned by Fiba Holding. Fiba Holding is part of Fiba Group, which is 100% owned by Mr. Husnu Ozyegin and his immediate family members. Fiba Holding captures all banking and financial services of the Group.

Private Actors

Fibabanka is 98.6% owned by Fiba Holding. Fiba Holding is part of Fiba Group, which is 100% owned by Mr. Husnu Ozyegin and his immediate family members. Fiba Holding captures all banking and financial services of the Group.

Contact Information

Esentepe Mahallesi, Fibabank A.S.
Office Address: Büyükdere Caddesi No:129
Sisli 34394 Istanbul - Türkiye
T: +90 212 381 8270
F: +90 212 381 8595

ACCOUNTABILITY MECHANISM OF IFC


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/