HTB Women (IFC-46195)

Countries
  • Cambodia
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 4, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
HATTHA BANK PLC.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 20, 2024

Disclosed by Bank Mar 3, 2022

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank's website, "the proposed investment is a 5-year senior loan of up to US$100 million to Hattha Bank Plc. (HTB or the Bank), formerly Hattha Kaksekar Limited (HKL), consisting of an A Loan, for IFC’s own account, of up to US$25-50 million and a mobilization of up to US$50-75 million. IFC’s investment will be exclusively used for on-lending to women-owned micro, small and medium enterprises (WMSMEs) in Cambodia to support the growth of HTB’s WMSME portfolio (the Project), which is expected to contribute to narrowing the financing gap to WMSMEs in Cambodia.  The Project is expected to be consecutively supported by the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi) as described in the Blended Finance Section."

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Project outcome: The Project will contribute towards narrowing the WMSME financing gap by providing additional loans to WMSMEs during the tenor of the loan. This is expected to increase economic activity and job creation in Cambodia to expedite post-crisis recovery.

Market-level outcome: IFC’s engagement with the Bank will mobilize private sector investors to support the financial sector in Cambodia and increase access to finance to the underserved WMSMEs.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The proposed Project consists of an IFC’s own account senior A Loan of up to US$25-50 million and a senior syndicated loan of up to US$50-75 million, to support the Bank’s financing to WMSMEs

Financial Intermediary
A financial intermediary is a 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
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the IFC, HTB has been operating and providing financial services in Cambodia since 1994. HTB, formerly Hattha Kaksekar Limited, the 2nd largest microfinance deposit-taking institution (MDI) in Cambodia, was licensed by the National Bank of Cambodia to operate as a commercial bank in August 2020. The Bank has total assets of about US$2.0 billion and a gross loan portfolio of about US$1.7 billion as of December 31, 2021, with a nationwide presence at 177 branches in 25 cities and provinces, the 2nd largest network among commercial banks in Cambodia. The Bank also has an extensive reach to rural borrowers, including WMSMEs.

The Bank is wholly owned by Bank of Ayudhya Public Company Limited (BAY), one of the leading commercial banks in Thailand. BAY is 76.88% owned by MUFG Bank in Japan.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Hattha Bank Plc.
Socheata IN
VP & Head of Treasury Department
(+855) 69 555 523
socheata@hatthabank.com
Sangkat Boeng Tumpun 1, Khan Mean Chey, Phnom Penh, Cambodia.
https://www.hatthabank.com

 

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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How it works