According to the Bank's website, this project provides financing to Alpha Bank Romania SA in an issuance of mortgage covered bonds in order to finance on-lending to residential mortgage borrowers in Romania.
Market Impact: IFC anticipates that the Project will support development of the Romanian mortgage market and capital markets development in issuance of a new covered bond instrument.
Project Impact: Romania's mortgage market is the smallest in relative terms in the EU at less than 10% of GDP, and the Project is expected to directly support end customers through new supply of mortgage loans.
Total bond issuance is expected to amount to EUR200 million of which IFC will take up to EUR50 million.
The Bank is the eighth largest bank in the country, with total assets of EUR3.3 billion and equity of EUR367 million as of the end of June 2018. Alpha Bank Romania is a universal bank, with a market share of 3.6% by total assets and 7.2% for mortgage loans. It currently employs approximately 2,000 staff and has a national network of 130 branches in Romania.
No contact information available at time of writing.
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