CDB raises EUR 5 mn

Citizens Development Business Finance PLC (CDB) raised €5 Mn in Tier II qualifying capital, strengthening its capital ratios aimed at supporting its business growth. The Tier II qualified subordinated loan which has a tenure of five years, has been extended by Triodos Microfinance Fund and Triodos Fair Share Fund which are two financial inclusion funds managed by Triodos Investment Management.

“In strengthening CDB’s future aspirations and in our quest to grow strategic sustainable partnerships, CDB now adds Triodos Investment Management into our portfolio of foreign funding partners,” states CDB’s Director Corporate Finance Roshan Abeygoonewardena. “CDB has always been incisively focused on a sustainability triad that encompasses environmental, social and governance (ESG) pivots which form the framework for infusing investment into sustainable business activities. The fundamental role of financial inclusion that supports economic growth therefore must reduce environmental impacts and have positive social influences. With this latest addition to our funding sources, these business fundamentals which are ingrained in the CDB business psyche are now further strengthened.”

CDB’s diversified interest bearing funding sources have a deposit to debt composition of 60:40 and includes retail, institutional deposits, savings, securitization, bank borrowings, debentures and foreign funding.

“CDB’s philosophy, strategy and operations are those of an organisation truly driven by values,” says Investment Manager for Asia at Triodos IM Constant Tilman. “It has a strong social and environmental focus, whereby the impact of every action or activity on society, the economy and environment is taken into account. This makes CDB a perfect fit with our mission and vision.”