RSF - Privredna Banka Zagreb (EBRD-53770)

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
  • 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
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
Jun 20, 2023
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
Privredna banka Zagreb d.d.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 81.90 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 75
Converted using 2023-06-20 exchange rate.
Project Cost (USD)
$ 81.90 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 75
Converted using 2023-06-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 27, 2024

Disclosed by Bank Mar 26, 2024

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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.

According to the EBRD, under the proposed project the EBRD will guarantee on unfunded basis typically 50% (up to a maximum of 65% and not more than EUR 25 million per sub-transaction) of individual loan exposures of PBZ with the remainder risk remaining with PBZ. Each sub-loan will be individually proposed to EBRD for approval. PBZ will be the first bank in Croatia to join the EBRD's Risk Sharing Framework.

The RSF will support PBZ's strategy for continued sustainable growth focusing on SME and midcap segment while allowing the bank to meet financing needs of larger clients. RSF will allow the bank to expand the relationship with the clients while keeping the risk-weighted assets under control and allowing the bank to manage internal industry and single exposure concentration limits. RSF will be used to support working capital and investment needs of SMEs and mid/large corporates.

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 EBRD, Privredna banka Zagreb ("PBZ") is the second largest bank in Croatia with ~21% market share. The bank is fully owned by Intesa Sanpaolo SPA ("ISP") (100%). ISP is rated BBB/Stable (Fitch), Baa1/Stable (Moody's) and BBB/Stable (S&P). As of YE2022, PBZ reported total assets of EUR 20.9 billion, net profit of EUR 194 million, NPLs of 3.8% and CAR of 22.4%, well above minimum regulatory requirements.


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.

Financial Intermediary - Privredna banka Zagreb d.d.:

Marin Kristic
Email: marin.kristic@pbz.hr
Phone: +385 1 489 13 10
Website: https://www.pbz.hr/en/gradjani
Address: Radnicka cesta 50, 10000 Zagreb, Croatia

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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

How it works

How it works