NTB Syndication

completed

 The project comprises of an up to US$50 million (IFC A-loan of up to US$16 million and mobilization via non-agented parallel loans of up to US$34 million), 5-year syndicated senior loan to Nations Trust Bank PLC (‘NTB’, the Bank), a mid-sized private commercial bank in Sri Lanka and an existing IFC client. The funds will be utilized by the Bank to fund its expansion in the SME lending space, with the possibility of a portion being carved-out for lending to women-owned SMEs (‘WSME’s) for which the bank will receive a performance incentive supported by the Women Entrepreneurs Finance Initiative (“We-Fi”). The financing provided is a fit with the World Bank and IFC strategy of promoting economic growth by providing access to finance to underserved market segments, thereby leading to job creation.NTB was established in 1999 and IFC was a founder shareholder with a 15% stake but divested in 2004. While IFC granted a Senior Loan of US$50 million to NTB for on-lending to SMEs in June, 2017, IFC has engaged with NTB during its early years to help it develop its SME banking strategy and risk management framework. NTB has also been a trade finance client of IFC since 2007.