DCM RBA MREL II (IFC-51090)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Croatia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Apr 18, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Raiffeisenbank Austria d.d. Zagreb
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Finance
  • Industry and Trade
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 113.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100
Converted using 2025-04-18 exchange rate.
Loan Amount (USD)
$ 113.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100
Converted using 2025-04-18 exchange rate.
Project Cost (USD)
$ 113.72 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 100
Converted using 2025-04-18 exchange rate.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Jun 9, 2025

Disclosed by Bank May 27, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

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.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

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

How it works

How it works