Project description
and objectives:
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AS Eesti Hoiupank (EHP) is the Estonian Savings Bank and the country's third-largest banking institution.
The principal objectives of the project are to:
- improve EHP's capitalisation, and to enable the bank to diversify its capital base;
- enable EHP to expand its business activities, including its private sector loan portfolio;
- enable EHP to meet new enhanced central bank prudential requirements.
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Transition impact:
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As the third-largest bank in Estonia, with over 20 per cent of the country's banking assets and the largest retail deposit base, EHP plays an important role within the country's banking system, including as a significant financial intermediary for the enterprise sector. The project will strengthen EHP's capital base and enable it to serve its retail and corporate clients more effectively.
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The client:
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AS Eesti Hoiupank (EHP) is the Estonian Savings Bank and the country's third-largest banking institution.
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EBRD finance:
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A subordinated loan, which will form part of EHP's capital base.
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Total project cost:
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Up to the equivalent of DM 25 million (ECU 12.5 million), all of which will be financed by the EBRD.
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Environmental impact:
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EHP 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. EHP 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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Ulle Poldaas, Operation Leader: poldaasu@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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