FIF - Forte Bank SME Loan

Location:

Kazakhstan

Project number:

47903

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

04 Oct 2016

Status:

Complete

PSD disclosed:

01 Sep 2016

Translated version of this PSD: Russian

Project Description

A 3 year senior loan to ForteBank JSC in the amount of USD 50 million in KZT equivalent. The financing will be used for on-lending to eligible private micro, small and medium sized enterprises (MSMEs) in Kazakhstan.

Project Objectives

The Project aims to support local currency lending to the MSME sector in Kazakhstan by providing longer term financing to Forte. A special focus will be given to distribution of funds in the regions outside the cities of Astana and Almaty.

Transition Impact

The proposed project will improve the access to long-term funding in local currency for MSMEs in the country. A special focus will be given to the distribution of funds in the regions outside Astana and Almaty, the administrative and financial capitals of Kazakhstan.

Client Information

FORTEBANK JSC

Forte is the 8th largest bank (out of 35) in the country with total assets of USD 3.0 billion, equity of USD 494 million and market shares of 4.5% in total assets, 3.3% in customer loans and 4.7% in deposits at 1Q2016. The bank offers a wide range of retail, corporate and SME product offering via its distribution network of 19 branches and 145 outlets in 39 cities and rural areas.

EBRD Finance Summary

USD 50,000,000.00

A senior loan of USD 50 million in KZT equivalent.

Total Project Cost

USD 50,000,000.00

USD 50 million in KZT equivalent.

Environmental and Social Summary

Categorised FI. Forte will be required to comply with PRs 2, 4 and 9 and adopt and implement the EBRD's E&S Risk Management Procedures for MSME loans and submit Annual Environmental and Social Reports to the EBRD.

Technical Cooperation

The proposed loan will be supported by MSME lending TC project to assist the ForteBank with improvement in MSME credit risk management and underwriting techniques, enhancement of performance measurement and reporting methodology, training of MSME loan officers.

Company Contact Information

ForteBank JSC
ayeszhan@fortebank.com
Tel: +7 (7172) 59 99 99

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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