Turkey Women in Business: QNB Finansbank II

Location:

Turkey

Project number:

48751

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

04 May 2017

Status:

Repaying

PSD disclosed:

02 Mar 2017

Translated version of this PSD: Turkish

Project Description

A senior unsecured loan of up to EUR 50 million (or USD equivalent) to QNB Finansbank A.S, a commercial bank incorporated in Turkey, to provide financing for womenled small and medium-sized enterprises (SMEs) to promote women entrepreneurship in Turkey. QNB Finansbank is an existing partner bank under the Turkey Women in Business programme. This is a second financing for QNB Finansbank under the programme and builds on the company's successful track record in on-lending funds to women-led private sector companies.

Project Objectives

The facility is a sub-project under Turkey Women in Business Framework, which is an integrated and dedicated programme in Turkey targeting women-led SMEs. The ultimate goal of the facility is to promote women entrepreneurship and access to finance and women's participation in business more broadly. This will be achieved through the development of a stronger women-led SME sector in Turkey by facilitating access to finance and advice for women-led SMEs.

The facility is supported by (i) technical cooperation programme to help QNB Finansbank expand its financial product offering benefiting women-led enterprises, (ii) a risk sharing mechanism to stimulate lending to this group on a sustainable basis and will benefit from the synergies with (iii) the Advice for Small Businesses, which is the grant-based component of the programme as a whole.

Transition Impact

Transition impact will stem from i) market expansion, ii) demonstration of new products and processes and iii) transfer of skills.

Market expansion will be achieved by increasing the availability of financing to women-owned and women-managed SMEs in Turkey, where gender gaps in access to finance are large. Demonstration of new products: the facility and the programme in general are expected to demonstrate that financing women-led SMEs through products and processes tailored to to their needs of is not only commercially viable and profitable, but also scalable and replicable.

Transition impact will also arise through transfer of skills by providing capacity building, product development and marketing outreach support.

Client Information

FINANSBANK AS

QNB Finansbank is the 8th largest commercial bank by asset size on unconsolidated basis as of end-December 2016. The bank is currently rated Ba1 by Moody's and BBB- by Fitch. Qatar National Bank (QNB) acquired 99.81 per cent stake from the National Bank of Greece on 15 June 2016. In line with its domestic business model, QNB Finansbank operates exclusively in Turkey providing banking services to retail, corporate, commercial and SME clients.

EBRD Finance Summary

EUR 50,000,000.00

Senior unsecured loan of up to EUR 50 million (or USD equivalent).

Total Project Cost

EUR 50,000,000.00

EUR 50 million (or USD equivalent).

Environmental and Social Summary

Categorized FI. QNB Finansbank is required to implement EBRD performance requirements 2 & 9 and the Bank's environmental and social procedures for small and micro loans. QNB Finansbank will submit annual environmental and social reports to the EBRD on the implementation of the environmental and social requirements.

Technical Cooperation

The facility will be supported by a comprehensive technical cooperation programme focusing on institutional capacity building, product development and marketing and outreach activities to continue building QNB Finansbank's capacity to reach out to women-led SMEs. The overall objective of the technical cooperation is to continue to support QNB Finansbank in the process of better understanding the financial needs of the women-led SME segment, and enable it to develop adequate customer information systems, optimise its lending procedures and develop and market products and services to respond to the segment needs. The technical cooperation for the programme will be jointly funded by the EU's Instrument for Pre-Accession Assistance (IPA) and the Turkish Ministry of Labour and Social Security.

Company Contact Information

Ms. Isil Gurbuz
isil.gurbuz@qnbfinansbank.com.tr
0212 318 5168
0212 318 5648
http://www.qnbfinansbank.com/en/default.aspx
QNB Finansbank, Kristal Kule Buyukdere Caddesi No: 215 4 Levent Istanbul 34394

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