Isbank GEO SME (IFC-40613)

  • Georgia
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
Bank Risk Rating
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 15, 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.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 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 Mar 13, 2019

Disclosed by Bank Nov 7, 2018

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Project Description

This project provides financing to JSC Isbank Georgia for funding small and medium-sized enterprises in Georgia. 

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

JSC Isbank Georgia: is headquartered in Tbilisi, Georgia and has one branch in Tbilisi and one in Batumi. The Bank started its operations in Georgia in mid-2012 in the form of a branch of Isbank in Batumi. Three years later Türkiye Is Bankasi A.S. obtained a general banking license and converted its branch into a local subsidiary as it was initially agreed with the National Bank of Georgia.

Türkiye Is Bankasi A.S.: founded in 1924, Isbank is the largest private bank in Turkey with total assets of TRY 484.7bn on a consolidated basis by the end of 2017 (equivalent to US$ 129.4bn with an exchange rate of 3.745 USD/TRY for 2017 YE). Isbank's credit ratings are B+ negative from Fitch Ratings,B2 negative from Moody's Investor Services, and B+ negative from S&P.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Turkiye Is Bankasi Anonim Sirketi (Isbank) Parent Company -

Contact Information

JSC Isbank Georgia 
Khatia Babukhadia 
Head of Financial Institutions Division 
+995 322 310 518 
No. 140/B, Agmashenebeli Av., 0102, Tbilisi, Georgia 

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