DCM Is Green Mortgage DPR (IFC-39403)

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
Proposed
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
Nov 10, 2017
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
TURKIYE IS BANKASI ANONIM SIRKETI
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)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 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 Aug 4, 2018

Disclosed by Bank Sep 27, 2017


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Project Description

This project finances the purchase of notes issued by Isbank to support residential mortgage lending, including green mortgages.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
<p class="cls-cls-cls-cls-cls-cls-cls-normal" dir="ltr"><span class="cls-cls-cls-cls-cls-cls-cls-defaultparagraphfont">Founded in 1924,&nbsp;Isbank&nbsp;is&nbsp;the largest private bank in Turkey&nbsp;with total assets worth US$97 billion as of June 30, 2017 and&nbsp;the highest market shares&nbsp;in most segments. Headquartered in Istanbul, Isbank&nbsp;serves&nbsp;around&nbsp;15 million customers&nbsp;with its 24,776 employees and&nbsp;wide physical and digital service networks, including 1,349 domestic branches country-wide (largest among private banks), 23 foreign branches, 6,542 ATMs (largest network among private banks), mobile and internet banking.</span></p> <p class="cls-cls-cls-cls-cls-cls-cls-normalweb" dir="ltr"><span class="cls-cls-cls-cls-cls-cls-cls-defaultparagraphfont" lang="en-IN">As of June 30, 2017, Isbank's largest shareholder is Isbank's Employees' Pension Fund (39.95%). 28.09% of the shares are Ataturk shares which are held by the Republican People's Party (CHP) and 31.96% are quoted at Borsa Istanbul and they are also traded at London Stock Exchange in the form of GDRs.</span></p>
Contact Information

Türkiye Is Bankasi A.S.
Nilgün Yosef Osman
Unit Manager, International Financial Institutions Division
+902123162810
nilgun.osman@isbank.com.tr
Genel Mudurluk, Kule 1, Kat 25, 34330 Levent, Istanbul - Turkey
www.isbank.com.tr

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/