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As stated by the IFC, the Project involves a 3-year senior loan of up to US$50 million with an option to be disbursed as a UZS-linked loan to Joint-Stock Commercial Bank with Foreign capital “Hamkorbank”, an IFC investment client since 2001, to support the Bank’s lending to micro and small enterprises, including women-owned MSEs. The Project may also include a senior syndicated loan of up to US$30 million.
The bank’s portfolio is invested mainly in retail, followed by SMEs, corporate, and microfinance loans. The MSE loans are in sectors of automobile industry, confectionery, trade in construction materials, mills, meat and diary products.
The IFC categorized the project risk as 'FI-2'.
As stated by the IFC, the Project involves a 3-year senior loan of up to US$50 million with an option to be disbursed as a UZS-linked loan to Hamkorbank to support the Bank’s lending to micro and small enterprises, including women-owned MSEs. The Project may also include a senior syndicated loan of up to US$30 million.
As stated by the IFC, Hamkorbank was established in 1991 as a private bank for SME sector in Andijan region. With total assets reported under IFRS as of the end of 2023 of USD 1.7 billion, now Hamkorbank ranks 9th by total assets and is the 3rd largest private bank in Uzbekistan, with a customer base of 2.9 million individuals and 110 thousand corporate clients and branch network covering 34 cities in Uzbekistan, 156 offices and 419 ATMs. The Bank provides a comprehensive array of financial services for the wide range of retail and corporate customers. Shareholders of the Bank include Mr. Ikram Ibragimov (59.21%), Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden n.v. (FMO) (14.55%), ResponsAbility Participations Aktiengesellschaft (10.53%), IFC (7.28%), Responsability Sicav (lux) micro and SME finance leaders (2.68%), Motanak Capital Management Pte. Ltd (1.21%) and other shareholders individually owning less than 1%.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Joint-Stock Commercial Bank with Foreign capital “Hamkorbank”:
Alexander Khan - Foreign Economic Relations Department Director
Phone: +998 71 150-91-28
Fax: +998 74 298-10-00
Email: khan.alexander@hamkorbank.uz
Address: 85 Bobur Street, Andijan city, Republic of Uzbekistan, 170119
Website: www.hamkorbank.uz
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