Project description
and objectives:
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A/S Hansabank-Latvia (HBL) is the sixth-largest banking institution in Latvia and a full subsidiary of the Estonian AS Hansapank.
The principal objectives of the project are to:
- improve HBL's capitalisation, and to enable the bank to diversify its capital base;
- enable HBL to expand its business activities, including its private sector loan portfolio;
- enable HBL to meet new enhanced central bank prudential requirements.
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Transition impact:
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HBL is an important institution in the market with a strong commercial orientation and reputation for good client service. In order to expand, and remain competitive, HBL plans to raise its capital by introducing an element of tier-two capital. The project will strengthen HBL's capital base and enable it to serve its retail and corporate clients more effectively. The transition impact of the project will be achieved by: first, fostering competition in the financial services market; and second, by facilitating HBL's use of the same variety of instruments to broaden its capital base as is available to international banks.
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The client:
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A/S Hansabank-Latvia (HBL) is the sixth-largest banking institution in Latvia and a full subsidiary of the Estonian AS Hansapank.
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EBRD finance:
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A subordinated loan, which will form part of HBL's capital base.
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Total project cost:
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Up to the equivalent of US$ 4 million (ECU 3.7 million), all of which will be financed by the EBRD.
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Environmental impact:
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HBL will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks, which provide for the integration of environmental due diligence into such banks' credit and investment appraisal processes and a requirement that borrowers comply, at a minimum, with national and local health and safety and environmental regulations and standards. HBL will submit annual environmental reports to the EBRD.
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Technical
cooperation:
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None
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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EBRD contact:
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Anatoly Crachilov, Operation Leader: crachila@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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