Fibabanka Equity Investment

Location:

Turkey

Project number:

47220

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

27 May 2015

Status:

Disbursing

PSD disclosed:

27 Oct 2015

Translated version of this PSD: Turkish

Project Description

The EBRD has acquired a minority stake in Fibabanka. The Bank has invested in newly issued shares representing 9.95 per cent of Fibabanka's share capital and voting rights. It may also participate in potential future capital increases. This is a co-investment with the IFC.

Project Objectives

The operation supports the growth of a small but high potential bank in Turkey.

Transition Impact

Sources of Transition Impact:
Market expansion

Client Information

FIBABANKA

Fibabanka is a local bank in Turkey ranking 22 out of 47 by assets at of June 2015, with 1,285 employees, 68 branches and a fully owned asset management subsidiary (Fiba Portfoy Yonetimi).

Fiba Group acquired former Millennium Bank from Banco Commercial Portuguese in December 2010, turned it around and rebranded it as Fibabanka. 

Environmental and Social Summary

Categorised FI. Fibabanka will be required to comply with EBRD Performance Requirements 2, 4 and 9, implement ES Risk Management Procedures across its entire portfolio and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation

None

Company Contact Information

Ahu Heper Dolu
ahu.heper@fibabanka.com.tr
+90 212 381 8270
+90 212 381 8595
www.fibabanka.com.tr
Genel Müdürlük / Head Office Esentepe Mah. Büyükdere Caddesi No:129 Sisli 34394 Istanbul -
Türkiye

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.