JSCB HAMKORBANK (FMO-55561)

Countries
  • Uzbekistan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
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
B
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
May 17, 2019
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
JSCB HAMKORBANK
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)
$ 5.00 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)
$ 5.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 15, 2020

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Project Description

According to FMO site, 5 million is allocated to Hamkorbank of Uzbekistan with the purpose of the intended facility is to support and promote the increasing trade finance activities of the bank.

Project objectives

The improving Uzbekistan economy offers increasing opportunities for trade finance. The bank is an existing FMO customer with a good track record. The proposed facility contributes to economic development in Uzbekistan.

Environmental and social rationale

This facility has been categorised as Category B in accordance with FMO’s Sustainability Policy. 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Hamkorbank ("the bank") is the largest privately-owned bank and the 8th largest bank in Uzbekistan, ~5% market share measured by assets (USD ~850 million). With 42 branches and 168 mini banks they operate a countrywide network. The bank's strategy is to focus on Micro, SME and retail customers. The bank is an existing customer of FMO since 2012.

Contact Information

FMO has implemented an Independent Complaints Mechanism which allows external parties to file a complaint concerning projects financed by FMO.https://www.fmo.nl/independent-complaints-mechanism

JSCB HAMKORBANK <http://www.hamkorbank.uz/>