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Highlights

Our Financial Institutions business enjoyed another successful year as the Eurozone turmoil and global economic crisis left unscathed most of the emerging markets in which we operate.

However, the economic crisis and accompanying increased regulatory pressure continued to quench Western European and US commercial bank activity in emerging markets. Although we did catalyze the amount of third-party money into developing countries as we had targeted, it did mean that most of the funds we mobilized came from development banks.

All the same, we were delighted to sign risk-sharing agreements with two Dutch banks, ING and Rabobank, to cooperate on trade finance transactions for developing countries, starting in Africa.

We closed our first syndicated transactions in Sri Lanka – two loans totaling a US$43 million to microfinance institution Lanka Orix Micro Credit – and a US$94 million syndicated loan to Khan Bank, one of the leading banks in Mongolia.

We expect to do more such syndicated facilities in years to come, especially in Latin America and in Asia.

FMO made a debut transaction in Uzbekistan with a US$9 million loan to Hamkorbank, the only Uzbek bank with its head office outside the capital, Tashkent, and one of the country’s few fully privately-owned banks. The loan is earmarked for lending to small and medium-sized enterprises.

For more information on our investments in 2012, please refer to the tables below.

New Contract (Investment Funds)

New contracts per region 2011 vs 2012 (€xmln)
20122011
Africa350
Asia3037
Latin America & the Caribbean338
Eastern Europe & Central Asia390
Non-region specific520
Total                                14265

New Contracts (Other)

New contracts per region 2011 vs 2012 (€xmln)
20122011
Africa125154
Asia168127
Latin America & the Caribbean160131
Eastern Europe & Central Asia79103
Non-region specific4412
Total                                576                                527

Committed portfolio per region 2011 vs 2012 (€xmln)

2012Investment fundsOther
Africa362550
Asia274551
Latin America & the Caribbean154574
Eastern Europe & Central Asia253523
Non-region specific136114
Total                             1,179                              2,312 
2011Investment fundsOther
Africa341546
Asia285453
Latin America & the Caribbean132511
Eastern Europe & Central Asia212589
Non-region specific13786
Total                             1,107                              2,185

NEW CONTRACTS PER SECTOR PER REGION (DII)

2012Investment fundsOther
Africa2080
Asia21108
Latin America & the Caribbean23103
Eastern Europe & Central Asia2750
Non-region specific330
Total94371
2011Investment fundsOther
Africa0103
Asia2482
Latin America & the Caribbean586
Eastern Europe & Central Asia067
Non-region specific138
Total42346