Bank Zachodni WBK subordinated bond (EBRD-49353)

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
Mar 14, 2018
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 SA
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • 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)
$ 44.05 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 36
Converted using 2018-04-05 exchange rate.
Project Cost (USD)
$ 291.23 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 238
Converted using 2018-04-05 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 13, 2019

Disclosed by Bank Apr 5, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

This project invests in a subordinated bond issued by Bank Zachodni, the proceeds of which will be used to finance the construction of new commercial and residential projects. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Private Actors

BZWBK is one of the largest financial institutions in Poland. BZWBK is listed on the Warsaw Stock Exchange with a market capitalization of PLN 36 billion (€ 8.6 billion equivalent) as of March 9, 2018. BZWBK had 10 per cent market share by deposits and 10.1 per cent market share by loan portfolio as of the end of 2017. Santander Group is the single largest shareholder with 68.13 per cent of total capital.

Contact Information

Pawel Kolodzinski
pawel.kolodzinski@bzwbk.pl 
(+48) 225341799
http://www.bzwbk.pl

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.