Banca Intesa Belgrade - Mortgage Line (EBRD-47781)

Countries
  • Serbia
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
Dec 9, 2015
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
Banca Intesa a.d. Beograd
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)
$ 32.95 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 30.00 million
Converted using 2015-12-09 exchange rate.
Project Cost (USD)
$ 32.95 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 30.00
Converted using 2015-12-09 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 9, 2017

Disclosed by Bank Oct 23, 2015

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Project Description
This project finances a loan to Banca Intesa a.d. Beograd to support its on-lending to private individuals in order to provide long-term financing for residential mortgages in Serbia.
Investment Description
Banca Intesa Belgrade is a long-standing partner of the EBRD and the largest bank in Serbia with the leading position in corporate and retail lending. With total assets of EUR 4.0bn as of 30 June 2015 it accounts for 16.2% of banking assets in Serbia. Banca Intesa Belgrade has been one of the most profitable banks in Serbia for many years, thanks to good diversification and efficient operations. In retail lending, the mortgage business is one of the key products which accounts approximately 57% of the retail book.

Contact Information
Company Contact Information Ms. Milena Perazic milena.perazic@bancaintesa.rs + 381 11 201 1402 www. bancaintesa.rs Banca Intesa ad Beograd Milentija Popovica 7b 11070 Novi Beograd ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.