Thai Credit Bank Equity

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The proposed project entails IFC’s equity investment of up to US$30 million equivalent in Thai baht as a cornerstone investor in an Initial Public Offering (IPO) of Thai Credit Bank Public Company Limited (“TCB” or “the “Bank) (“The Project”). The Bank is the only Thai bank that focuses on underserved segment in Thailand. The Bank targets the micro and SMEs which represent 34.6% of Thai 2021 GDP and 71.9% of total workforce. Total equity stake to be offered at the IPO will be up to 28.2% stake post IPO, including 5.2% new shares and 23.0% secondary shares. The Project will be a continuation of IFC’s systematic efforts to promote financial inclusion in Thailand and signal confidence in TCB’s inclusive business model. IFC’s cornerstone participation in the IPO is expected to crowd in other investors to further support the Bank’s strategy focusing on MSMEs, digitalization and sustainable finance.