PROJECT

Projects

Summary of Investment Information

Project Number

36153

Company Name

QNB FINANSAL KIRALAMA ANONIM SIRKETI

Date SPI Disclosed

Feb 25, 2015

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Mar 30, 2015

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Apr 7, 2015
Signed : May 5, 2015
Invested : May 18, 2015

Sector

Leasing Services

Project Description

Finans Finansal Kiralama A.Ş. (the “Company” or “Finans Leasing”) is a subsidiary of Finansbank with primary operations in Leasing in Turkey. The Company commenced operations in 1990 and has a strong niche in the SME segment and a noticeable market share of 6.2% by business volume as of December 2014 in a very competitive market. The Company offers mainly finance leases to, SMEs, Commercial and Corporate clients.

The proposed project consists of up to US$50 million straight senior loan for IFC’s own account and up to US$25 million senior loan under the Managed Co-lending Portfolio Program (“MCPP”) to the Company. The purpose of the proposed IFC investment is to support the Company''s leasing operations in energy efficiency and renewable energy for SMEs (the "Project").

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation