International Finance Corporation (IFC), a member of the World Bank Group and the largest multilateral source of loan and equity financing for private sector projects in the developing world, has decided to convert part of its subordinated loan to Maltese trade finance specialist Fimbank into ordinary shares.
This represents the first ever investment by the World Bank in an institution in Malta. The move will give IFC a shareholding of 7.18% of the bank’s issued share capital and a seat on its board.

Margrith Lütschg Emmenegger, president of Fimbank Group, validates that the IFC shareholding is a strong sign of confidence in Fimbank and its future potential. IFC has clearly stated in its presentations to the World Bank board and to the Maltese authorities that this investment is a long-term commitment underlining the belief in the future of the bank.

This development should be viewed, claims the bank, as a further step in strengthening Fimbank’s position in the market and its potential to accelerate growth, strengthen operations, increase visibility and create strong confidence in its capabilities internationally and domestically. It is expected that IFC will nominate a director to the board thus adding international expertise and experience to the Fimbank board.

Fimbank is a specialised international trade finance bank based in Malta. It is regulated financial institution by the Malta Financial Services Authorities and is a quoted company on the Malta Stock Exchange. It is globally represented through offices of its subsidiary, London Forfaiting Company, and joint venture companies.