FIF - Erste Bank Serbia SME loan (EBRD-50643)

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
Proposed
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.
Borrower
Erste Bank AD Novi Sad
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)
$ 45.25 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 40 million
Converted using 2019-02-18 exchange rate.
Loan Amount (USD)
$ 45.25 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 45.25 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 40
Converted using 2019-02-18 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 13, 2019

Disclosed by Bank Feb 18, 2019


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Project Description

According to EBRD website, the project aims to contribute to the expansion of lending to private businesses through working capital lines and investment loans to SMEs, including enterprises operating in economically less developed regions of the country. Furthermore, the transaction supports EBS's growth strategy and diversification of its funding sources.

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

EBS is a dynamic retail-oriented bank with an experienced management team and consistently strong performance. The bank has a market share of 5% and is ranked 7th by total assets among 30 banks in Serbia. It is a subsidiary of Erste Group, which is the second largest bank in Austria rated A3, A, A- (Moody's, S&P, Fitch). EBS is a systematically-important bank in Serbia according to the Central Bank classification.

Contact Information

No contact information provided at the time of disclosure. 

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.