BZ WBK green facility (IFC-38703)

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
Nov 23, 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
BANK ZACHODNI WBK S A
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.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 19, 2018

Disclosed by Bank Oct 20, 2016


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Project Description

According to IFC website, the project supports Bank Zachodni WBK S.A. with a debt facility which will be earmarked for green projects in Poland including renewable energy, energy efficiency, water efficiency, and green buildings. The objective of the Project is to strengthen green lending in Poland. With this facility, BZ WBK can become one of the leading banks in Poland in this rapidly developing segment due to its good financial position, IFC's support in helping to develop green strategy, sound outreach to local companies, and global name/expertise of Santander Group. 

Investment Description
  • International Finance Corporation (IFC)

BZ WBK is the third largest bank in Poland by assets, offering all types of banking services across the entire country’s territory. It was established as a result of a merger between Bank Zachodni S.A. with Wielkopolski Bank Kredytowy S.A. in 2001, when the combined Bank’s shares debuted on the Warsaw Stock Exchange. The Bank is currently 70% owned by Santander Spain, with the remaining 30% as free-float.
Banco Santander started operations in 1857 and is the largest bank in Spain and rated number 18 in the world by assets.

Private Actors

BZ WBK is the third largest bank in Poland by assets, offering all types of banking services across the entire country’s territory. It was established as a result of a merger between Bank Zachodni S.A. with Wielkopolski Bank Kredytowy S.A. in 2001, when the combined Bank’s shares debuted on the Warsaw Stock Exchange. The Bank is currently 70% owned by Santander Spain, with the remaining 30% as free-float.
Banco Santander started operations in 1857 and is the largest bank in Spain and rated number 18 in the world by assets.

Contact Information

Project Contact: Mr. Pawel Kolodzinski
Finance Management Division, Corporate Development Office, BZ WBK S.A.
Office Address: 17 Jana Pawla II Avenue, Warsaw, Poland

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/