TMB SF (IFC-38574)

Regions
  • East Asia and Pacific
Where the impacts of the investment may be experienced.
Countries
  • Thailand
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
Hold
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
Jul 4, 2016
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
TMB BANK PUBLIC COMPANY 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.
Project Cost (USD)
$ 34.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Jun 1, 2016


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Project Description

The project consists of IFC’s guarantee and/or financing to TMB Bank Public Company Limited (“TMB” or the "Bank") or affiliates for business operation relating to small and medium enterprises (“SME”) sector in Thailand (the "Project").

TMB was established in Thailand in 1957 as Thai Military Bank to offer financial services to members of the Thai military. In 1973, TMB became a full commercial bank and expanded its customer base to include the general public. The Bank has been listed on the Stock Exchange of Thailand since 1983 and transformed into a public limited company in 1994. Thai Military Bank Plc., DBS Thai Danu Bank Plc. and the Industrial Finance Corporation of Thailand merged into TMB Bank Plc. in 2004, ING Bank N.V. (“ING Bank”) and the Ministry of Finance of Thailand (“MOF”) became major shareholders of TMB by the issuance and offering of 25,000 million new ordinary shares in 2007. At present, MOF and ING Bank are the major shareholders of TMB holding 25.98% and 25.08%, respectively.

Investment Description
  • International Finance Corporation (IFC)

TMB was established in Thailand in 1957 as Thai Military Bank to offer financial services to members of the Thai military. In 1973, TMB became a full commercial bank and expanded its customer base to include the general public. The Bank has been listed on the Stock Exchange of Thailand since 1983 and transformed into a public limited company in 1994. Thai Military Bank Plc., DBS Thai Danu Bank Plc. and the Industrial Finance Corporation of Thailand merged into TMB Bank Plc. in 2004, ING Bank N.V. (“ING Bank”) and the Ministry of Finance of Thailand (“MOF”) became major shareholders of TMB by the issuance and offering of 25,000 million new ordinary shares in 2007. At present, MOF and ING Bank are the major shareholders of TMB holding 25.98% and 25.08%, respectively.

The project consists of an investment of approximately THB1.2 billion (approximately US$34 million) in IFC’s own account.

Private Actors

TMB was established in Thailand in 1957 as Thai Military Bank to offer financial services to members of the Thai military. In 1973, TMB became a full commercial bank and expanded its customer base to include the general public. The Bank has been listed on the Stock Exchange of Thailand since 1983 and transformed into a public limited company in 1994. Thai Military Bank Plc., DBS Thai Danu Bank Plc. and the Industrial Finance Corporation of Thailand merged into TMB Bank Plc. in 2004, ING Bank N.V. (“ING Bank”) and the Ministry of Finance of Thailand (“MOF”) became major shareholders of TMB by the issuance and offering of 25,000 million new ordinary shares in 2007. At present, MOF and ING Bank are the major shareholders of TMB holding 25.98% and 25.08%, respectively.

Contact Information

Project Contact: Mr. Vikran Paovarojkit
Senior Executive Vice President, TMB Bank Public Company Limited
3000 Phahonyothin Road, Chompon, Chatuchak, Bangkok 10900, THAILAND
Telephone No.: +66 0-2299-2511-2
Fax: +66 0-2299-2752
http://www.tmbbank.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/