As stated by the EBRD, the project consists in the provision of EUR 25 million senior preferred unsecured loan to Banca Transilvania SA, the largest bank in Romania.
The proposed Project aims to support the resilience of Banca Transilvania, the largest systemic bank in Romania, in a market environment that has become even more challenging given the recent market disruption arising from the ongoing war on Ukraine, the inflationary pressures and remaining risks from COVID-19. Through this Project, BT will focus on on-lending to businesses in Romania, particularly MSMEs, which have been directly and indirectly impacted by the ongoing war and its economic spill-over effects on the regional economies.
As stated on the EBRD's website, Banca Transilvania S.A. is currently the largest bank in Romania with ~19.5% market share in terms of total assets as of YE21. As of 31 March 2022, apart from EBRD's holding of 6.88%, foreign entities and individuals held ca. 29.8% of BT's share capital, while 63.3% was held by domestic private and institutional investors. BT is rated by Fitch, BB+ (stable) as of 22/12/2021.
Financial Intermediary - Banca Transilvania SA:
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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 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.
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