Project description
and objectives:
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The project will allow the bank to strengthen its position as a leader in
banking services to SMEs. The bank will expand and improve the range of its
services through investments in new products, management information systems,
branch network and services. The bank also intends to contribute to the
consolidation of the Bulgarian banking sector through mergers or acquisitions
activity.
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Transition impact:
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The project is expected to contribute to the further strengthening and
consolidation of the Bulgarian banking sector. It will also demonstrate the
EBRD's commitment to the long-term financing of SMEs. In addition, it will
demonstrate the EBRD's commitment to work with banks and companies backed by
local Sponsors.
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The client:
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Commercial bank Unionbank (CB Unionbank a.d.) is a Bulgarian financial
institution that specialises in providing banking services to small and medium
sized Bulgarian companies.
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EBRD finance:
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Up to €3.1 million equity investment with a series of follow-on investments
through capital increases of up to €2.5 million.
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Total project cost:
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Up to €3.1 million equity investment at the initial stage (2002) with up to
€42 million at the follow-on capital increases in 2007-2009.
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Environmental impact:
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The bank will carry out its operations in accordance with the EBRD's
Environmental Procedures for Local Banks. In implementing these procedures,
the bank 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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Galina Shterionova, Operation Leader: shteriog@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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