FMO Netherland, SBI-FMO Fund and IFC to invest $ 22 m in SDB bank

Wednesday, 29 March 2017 01:29 - - {{hitsCtrl.values.hits}}

At an extraordinary general meeting held last week, shareholders of SANASA Development Bank (SDB Bank) approved an Equity and Funding package amounting to $ 22.21 million (Rs. 3.3 billion).

Out of this $ 9.82 million (Rs. 1.46 billion) will be added to the capital base of SDB Bank by way of equity while a further $ 12.39 (Rs. 1.84 billion) will be through long-term senior and subordinated convertible term loans.

SDB Bank, which is undergoing a major transformation process, has invested substantially in improving its technology and efficiency.