BZ WBK Poland REFF (EBRD-48146)

Countries
  • Poland
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
Feb 24, 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
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Finance
  • Technical Cooperation
  • Water and Sanitation
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)
$ 82.66 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 75,000,000.00
Converted using 2016-02-24 exchange rate.
Project Cost (USD)
$ 82.66 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 75,000,000.00
Converted using 2016-02-24 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Jan 15, 2016


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Project Description
This project provides financing to the Polish bank BZ WBK, along with technical assistance, for on-lending to energy and resource saving projects in residential buildings. The project is aimed at tackling he high energy and water consumption in the Polish residential sector.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
BZ WBK is the third largest lender in Poland established through a merger between Bank Zachodni S.A. and Wielkopolski Bank Kredytowy S.A. in 2001. In April 2011, BZ WBK became part of the Santander Group. Banco Santander S.A. is the main shareholder of the Group and currently holds 69.4% shares. The Group has a well-established and developed network of retail branches and a strong position in the SME and corporate sectors, focusing on customers from large and small and medium-sized enterprises. The merger with Kredyt Bank (in 2013) significantly increased the Group's mortgage franchise, while the consolidation of Santander Consumer Bank (2014) also helped to expand the Group's presence in retail lending. As of 9M15 the Group had total assets of EUR 31.9 billion, total equity of EUR 4.7 billion and net profit of EUR 534.8 million. BZ WBK served 6.2 million customers and had a network of 752 branches as of 9M15.
Contact Information
Pawel Kolodzinski pawel.kolodzinski@bzwbk.pl 0048225341799 http://www.bzwbk.pl Bank Zachodni WBK S.A., 17 Jana Pawla II Avenue, 00-854 Warsaw, Poland 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.