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As stated by the IFC, the proposed project consists of an up to EUR 100 million investment in Ordinary Senior Eligible Notes, classified as MREL (Minimum Requirement for own funds and Eligible Liabilities) eligible bonds, to be issued by Raiffeisen Austria d.d. Zagreb (Raiffeisen Croatia or RBA). The investment will be disbursed in two tranches with the first one expected to be EUR 40 million. The proceeds from the IFC investment will be dedicated entirely to supporting climate investments in Croatia. 10% of the total proceeds will be specifically allocated to blue finance with a target of reaching 20% on best efforts.
Sub-projects may include such assets as green buildings, energy efficiency, clean transport, renewable energy projects, hotels with sustainable water management certification and water utilities projects.
As stated by the IFC, RBA was established in December 1994 in Croatia and is wholly owned by Raiffeisen Bank International (RBI), a leading Austrian banking, and represents approximately 3 percent of RBI’s total assets. RBA offers a comprehensive range of financial services to retail, corporate, SME and Institutional clients across the country through 62 branches and digital sales channels and employing 1,710 staff members. As of December 31, 2024, RBA is the sixth-largest bank in Croatia, with total standalone asset base of € 6.8 billion and a market share of 8 percent. Its capital adequacy ratio remains adequate, with a total capital adequacy ratio of 20.5%. Asset quality is stable as is reflected with a non-performing loan ratio of 2.5% as of December 2024. As of November 2024, Moody’s rates RBA at Baa1 (stable).
The Bank is wholly owned by Raiffeisen Bank International (RBI), a leading Austrian banking group listed on the Vienna Stock Exchange since April 2005. Approximately 61.2% of RBI’s shares are held by regional Raiffeisen banks, with the remaining 38.8% owned by free float investors.
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Financial Intermediary - Raiffeisenbank Austria d.d. Zagreb:
Mihaela Renic - Director of Asset and Liability Management
Phone: +385 914002055
Email: mihaela.renic@rba.hr
Address: Zagreb, Magazinska cesta 69
Website: https://www.rba.hr/en/about-us.html
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries
If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.
ACCOUNTABILITY MECHANISM OF IFC/MIGA
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org