TMB RSF (IFC-35414)

Countries
  • Thailand
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
Approved
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
Sep 3, 2014
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
TMB BANK PUBLIC COMPANY LIMITED
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)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 70.44 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.
Project Cost (USD)
$ 70.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 1, 2018

Disclosed by Bank Jul 23, 2014


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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, this project involves an unfunded Risk Sharing Facility of US$70 million to be provided to TMB Bank Public Ltd. with a 7-year maturity in order to support the Bank to further extend loans to the SME sector in Thailand.

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

TMB was established in Thailand in 1957 as Thai Military Bank to offer financial services to members of the Thai military. In 1973, TMB became a full commercial bank and expanded its customer base to include the general public. The Bank was listed on the Stock Exchange of Thailand (SET) in 1983 and transformed into a public limited company in 1994. Thai Military Bank Plc., DBS Thai Danu Bank Plc. and the Industrial Finance Corporation of Thailand merged into TMB Bank Plc. in 2004. The Ministry of Finance of Thailand and ING Bank N.V. (“ING Bank”) are the major shareholders of TMB holding 26.02% and 25.12%, respectively.

The proposed investment is an unfunded RSF of US$70 million to TMB with a 7-year maturity.

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.

TMB was established in Thailand in 1957 as Thai Military Bank to offer financial services to members of the Thai military. In 1973, TMB became a full commercial bank and expanded its customer base to include the general public. The Bank was listed on the Stock Exchange of Thailand (SET) in 1983 and transformed into a public limited company in 1994. Thai Military Bank Plc., DBS Thai Danu Bank Plc. and the Industrial Finance Corporation of Thailand merged into TMB Bank Plc. in 2004. The Ministry of Finance of Thailand and ING Bank N.V. (“ING Bank”) are the major shareholders of TMB holding 26.02% and 25.12%, respectively.


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.

Mr. Samuel Cheung
Head of SME Product & Portfolio Management
TMB Bank Public Company Limited
3000 Phahonyothin Road, Chompon, Chatuchak
Bangkok 10900
THAILAND
Tel: +66 0-2299-1178
Fax: +66 2242 3138/9
http://www.tmbbank.com

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/

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How it works