FMO | annual and interim reports

2 Basis of preparation and changes to accounting policies

These 2024 condensed consolidated interim accounts as at June 30, 2024 have been prepared in accordance with IAS 34 of the International Financial Reporting Standards (IFRS), as endorsed by the EU. Read more about 2 Basis of preparation and changes to accounting policies .

3 Segment information

The Management Board sets performance targets, approves and monitors the budgets prepared by operating segments. Operating segments are not identical to the strategic sectors. Read more about 3 Segment information .

4 Financial Instruments

The following table shows the carrying amounts of financial assets and financial liabilities. Read more about 4 Financial Instruments .

5 Short term credits

6 Debentures and notes

Debentures and notes includes issued debt instruments in various currencies under FMO's Debt Issuance Programs. In addition, a subordinated note of €250 million is also included in the Debenture and Notes. Read more about 6 Debentures and notes .

7 Commitments and contingent liabilities

To meet the financial needs of borrowers, FMO enters into various irrevocable commitments (loan commitments, equity commitments and guarantee commitments) and contingent liabilities. Read more about 7 Commitments and contingent liabilities .

8 Interest Income

Interest income increased during the current financial period due to increases in interest rates on FMO's variable rate loan portfolio. This is driven by increases in the reference rates observed in the market. Read more about 8 Interest Income .

9 Interest Expense

Interest expense increased due to increases in the reference rates on FMO's variable rate funding portfolio. Read more about 9 Interest Expense .

Additional information

At a glance

FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in emerging markets and developing economies by investing in ambitious projects and entrepreneurs. Read more about At a glance .

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