Quick Facts

Where the impacts of the investment may be experienced.
  • Turkey
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Bank Risk Rating: FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2015-05-27
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Fibabanka
The holder of the loan, grant, or other investment.
The service or industry focus of the investment. A project can have several sectors.
  • Finance
Investment Type(s): Equity
The categories of the bank investment: loan, grant, etc.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-08-03
Disclosure Date: 2015-10-27
Fibabanka Equity Investment

Project Description
This project finances support for the growth of Fibabanka, a small but high potential bank in Turkey, in order to expand the market.
Investment Description
This project comprises of minority stake by the EBRD in Fibabanka. EBRD 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. 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.
Contact Information
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 ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.