Zachodni WBK (IFC-38099)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Poland
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 19, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BZ WBK LEASING SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 26, 2018

Disclosed by Bank May 17, 2016


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Project Description

The project supports BZ WBK Leasing S.A. and/or BZ WBK Lease S.A. with a senior loan which will be earmarked for women entrepreneurs and for MSMEs in less developed regions in Poland. According to IFC, " the Companies provide financial services in sectors such as manufacturing, agriculture, transport, distribution with the average amount per transaction being less than US$50K.The Companies’ portfolios include projects with mainly potentially limited adverse E&S risks and impacts that are generally site-specific, largely reversible and readily addressed through mitigation measures."

Investment Description
  • International Finance Corporation (IFC)

The Companies are the leasing subsidiaries of Bank Zachodni WBK, which was established in 2001 following the merger of Bank Zachodni S.A. and Wielkopolski Bank Kredytowy S.A. Since 2011 the Bank has been owned by Santander Group, which holds 70% of the Bank’s capital, with the remaining 30% being listed on the Warsaw Stock Exchange. The Companies are 100%-owned by BZ WBK Finanse Sp. z.o.o. which is itself 100%-owned by BZ WBK.

Private Actors

The BZ WBK Leasing S.A. and/or BZ WBK Lease S.A. are the leasing subsidiaries of Bank Zachodni WBK (“BZ WBK” or the “Bank”) which was established in 2001 following the merger of Bank Zachodni S.A. and Wielkopolski Bank Kredytowy S.A. Since 2011 the Bank has been owned by Santander Group, which holds 70% of the Bank’s capital, with the remaining 30% being listed on the Warsaw Stock Exchange.


The Companies are 100%-owned by BZ WBK Finanse Sp. z.o.o. which is itself 100%-owned by BZ WBK.

Contact Information

No contact information provided at the time of disclosure.

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/