Odeabank Equity

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The proposed IFC investment consists of participation in a capital increase for a relatively young bank, Odeabank A.S. (“Odeabank” or the “Bank”) in the Republic of Turkey (“Turkey” or the “Country”) (the “Project”). Founded in November 2012, Odeabank has been a growing player in the Turkish banking sector ranking twelfth in terms of asset size which reached around US$11 billion and a capital base of around US$0.9 billion as of year-end 2015. The Bank has 55 branches and around 1,560 employees offering a wide spectrum of universal banking products among key segments including corporate, commercial, small and medium enterprises and retail banking. The Bank has adopted a direct banking model with effective utilization of alternative distribution channels and has been identified as a potential partner for IFC to work with in supporting digital banking in Turkey.The Project will help the Bank to build on its small and medium enterprises (“SMEs”) loan portfolio and support its existing digital banking activities to reach out to micro and other underbanked segments of the population.