JSC UKRSIBBANK Capital Optimization (MIGA-15439)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Ukraine
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
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 8, 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
BNP Paribas S.A., JSC Ukrsibbank
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)
$ 109.84 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 2025-04-08 exchange rate.
Corporate Actor Documents
Primary Source

Original disclosure @ MIGA website

Updated in EWS Apr 14, 2025

Disclosed by Bank Apr 8, 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 MIGA, this summary covers equity investments by BNP Paribas S.A. (BNPP or the Group), in its subsidiary in Ukraine, JSC UKRSIBBANK (UKRSIBBANK or the Subsidiary). The investor has applied for a MIGA guarantee of up to EUR100 million for capital optimization cover for a period of up to 1 year and 1 day (the Project).

JSC Ukrsibbank provides financial products and services to individuals, small and medium enterprises, and corporates in Ukraine. The MIGA guarantee will support transactions across these three segments. The main sectors supported by the bank are commerce and trade, manufacturing, and agriculture and food processing.

MIGA's guarantee aims to help BNPP optimize the Group's risk-weighted assets (RWA) on a consolidated basis. With the MIGA guarantee, the parent bank (BNPP) will pass the benefits of the RWA relief at the Group level to its operating subsidiary in Ukraine. The RWA capacity freed up by MIGA's proposed guarantee is expected to be used by BNPP to support UKRSIBBANK in growing its lending operations in Ukraine. The Project is therefore expected, on a best-effort basis, to increase access to finance for corporates, SMEs (including Women-owned SMEs), and households in Ukraine, including support for energy efficiency projects, at a time when the country is facing exceptionally challenging conditions.

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 MIGA, BNP Paribas is a global systemically important bank headquartered in Paris, France, and active in 63 countries. It is the largest bank in the European Union in terms of total assets. It offers a comprehensive range of services including retail banking, corporate and institutional banking, wealth management, and specialized financial solutions. BNP Paribas' operations in the Central and Eastern Europe (CEE) region include the Czech Republic, Hungary, Romania, Slovakia, Poland, and Ukraine.

UKRSIBBANK is one of the Ukraine's largest universal banks. It provides a comprehensive range of financial services, catering to both individual and corporate clients. It is 60% owned by BNP Paribas.


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.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

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

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How it works