The EBRD invested EUR 100 million in a subordinated bond issued by Banca Transilvania as part of a total aggregate issuance of EUR 285 million. This is the first subordinated bond listed on the local market and is compliant with the European Union's Capital Requirements Regulation and Capital Requirements Directive IV (commonly referred to as CRR/CRD IV or Basel III).
With this investment, EBRD is seeking to support the optimization of Banca Transilvania's capital structure by increasing the Tier 2 instruments and MREL-eligible funding base, in line with the regulatory requirements to be defined at European and local level.
Banca Transilvania SA is a commercial bank incorporated in Romania providing universal banking services. As of March 2018, Banca Transilvania has a 14% market share in terms of total assets (second largest bank in Romania). It is rated BB+ (stable) by Fitch and the EBRD is the largest shareholder with a current stake of 8.6%.
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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 a 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 email@example.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.