WCSS Pubali Bank (IFC-37955)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • Bangladesh
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
Jun 19, 2018
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
Pubali Bank Limited
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)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 7, 2018

Disclosed by Bank Feb 28, 2018


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Project Description

The project comprises of an investment of up to USD 50 million Working Capital Solutions (WCS) and USD 30 million Global Trade Finance Facilities (GTFP) with Pubali Bank Limited (PBL or the Bank). The investment intends to (i) support the MSME growth strategy and (ii) expand the USD denominated trade business through the Bank’s Offshore Banking Unit. The financing provided is a fit with IFC country strategy of creating access to finance for SMEs and financial inclusion through investments in FIs.

Pubali Bank Limited is the largest conventional (non shariah) commercial bank in Bangladesh with an asset size of USD 4.2 Bn which represents ~5% of private commercial bank assets in Bangladesh and a deposit base of USD 3.2 Bn. It is a universal bank providing corporate, SME and retail banking services.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Pubali Bank Limited is the largest conventional (non shariah) commercial bank in Bangladesh with an asset size of USD 4.2 Bn which represents ~5% of private commercial bank assets in Bangladesh and a deposit base of USD 3.2 Bn. It is a universal bank providing corporate, SME and retail banking services. 

Originally incorporated in 1959 under the name of “Eastern Mercantile Bank Limited” under Companies Act 1913, Pubali Bank Limited (The Bank) was renamed after privatization on 30 June, 1983. The Bank is listed on both Dhaka and Chittagong Stock Exchanges. Around 30% is held by the directors & sponsors and 46.16% by the general public. The Board consists of 13 Directors including 1 Independent Director. The Chairman of the Board is Mr. Habibur Rahman.

Contact Information

Mr. Md. Shahadat Hossain
GM, International Division & Treasury Division, Pubali Bank Limited  
Telephone No.: 88029551614
Email Address: shahadat.id@pubalibankbd.com
Office Address: Head Office, 26 , Dilkusha Commercial Area, Dhaka - 1000, Bangladesh
Website: https://www.pubalibangla.com/

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/