ONE Bank Debt (IFC-39532)

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
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
Mar 30, 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
One 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.
Loan Amount (USD)
$ 20.00 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)
$ 80.00 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 Mar 29, 2019

Disclosed by Bank Feb 28, 2018


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Project Description

The proposed project consists of a Working Capital Solutions (WCS) facility for up to $30 million, a green/sustainable finance loan for up to $20 million and a $30 million guarantee under Global Trade Finance Program (GTFP) to ONE Bank Limited (the Bank or ONE Bank). The purpose of the IFC funding is to support and fund the Bank’s trade and lending program to its clients with focus on SME and to green subprojects in Bangladesh.

ONE Bank was incorporated in May 1999 as a private commercial bank. The Bank is listed on the Dhaka and Chittagong Stock Exchanges. The Bank's total assets stood at $2.7 billion as of September 2017

Investment Description
  • International Finance Corporation (IFC)
Private Actors

ONE Bank was incorporated in May 1999 as a private commercial bank. The Bank is listed on the Dhaka and Chittagong Stock Exchanges. The Bank's total assets stood at $2.7 billion as of September 2017.

ONE Bank is a listed Bank with diversified shareholders base. As of September 2017, the Sponsor/Director holds 30% shares of the Bank. Local and foreign financial institutions cumulatively hold 22% and public holds 48% of the Bank’s shares.                                        

Contact Information

Mr. Shabbir Ahmed 
Additional Deputy Managing Director, ONE Bank Ltd. 
88 02 9118161 
shabbir.ahmed@onebank.com.bd 
46, Kawran Bazar C/A, Dhaka-1215, Bangladesh 
www.onebank.com.bd/

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/