Project description
and objectives:
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DM 18 million subordinated convertible loan to Bankas Hermis, Lithuania.
The facility would strengthen the capital base of Bankas Hermis and enable it to continue its development according to its strategic plans. It would also provide the bank with longer-term financial resources, which in turn will facilitate longer-term lending activities and help maintain adequate liquidity of the bank.
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Transition impact:
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The project will help to strengthen the financial sector in Lithuania, improving its capitalisation and providing additional much-needed longer-term funds for the economy.
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The client:
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Bankas Hermis is a privately owned commercial bank and one of the leading banks in the country. A majority of the shareholders are foreign institutions. The bank is in a rapid expansion phase, and the additional capital resources will support its continuing growth.
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EBRD finance:
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The EBRD will provide a subordinated convertible loan of up to DM 18 million (ECU 9.5 million).
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Total project cost:
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DM 18 million (ECU 9.5 million).
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Environmental impact:
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Bankas Hermis will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, Bankas Hermis will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.
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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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Toby Moore, Operation Leader: mooret@rig.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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