Project description
and objectives:
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By participating in the subscription/acquisition of shares of Eksimbanka, the Bank will support Eksimbanka to meet the minimum capital requirements set by the National Bank of Serbia and to consolidate its shareholding structure by purchasing the shares currently held by the Bank Rehabilitation Agency.
The proposed loan will enable the bank to provide medium-term loans to SMEs (capital investments and working capital) and consumer loans to private individuals in the environment where banking sector intermediation level is low. The credit line will allow the bank to meet the demand for medium-term loans and increase Eksimbanka's competitiveness in the local market.
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Transition impact:
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Promoting the growth of a creditworthy local bank will increase depositors' and other investors' confidence in the banking sector, support the increase in the banking sector intermediation role and promote healthy competition among banks.
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The client:
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Eksimbanka is a well-positioned medium to small-sized bank that provides banking services to SMEs as its main customers. The bank was established on 25 December 1991 as a subsidiary of Investbanka a.d. Beograd. In 1995, Eksimbanka started independent operations and after lifting of the sanctions in 1996, it started regular banking services, with the focus on mainly servicing private SMEs. The shareholder structure of the bank was reformed in 1998, when SMEs became the dominating shareholder group of the bank, owning 60 per cent of the share capital. In March 2002 a group of international investors acquired a majority stake in Eksimbanka.
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EBRD finance:
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Equity: €2.2 million;
Senior debt facility: €3 million.
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Total project cost:
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Equity: €7 - 8.5 million;
Senior debt facility: €3 million.
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Environmental impact:
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Eksimbanka is required to adopt environmental procedures in accordance with EBRD's Environmental Procedures for Local Banks (including the Environmental Exclusion List) which will enable Eksimbanka to assess the level of risks and liabilities, and to adopt the appropriate mitigation and monitoring measures. Eksimbanka will need to require its clients to comply with Serbian health, safety and environmental legislation. Eksimbanka's representatives attended environmental risk management training organised by EBRD in June 2002.
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Technical
cooperation:
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Technical Assistance in the form of (i) the provision of a Shadow CEO and (ii) an Institutional Building/Twinning programme, was provided to Eksimbanka. The total cost was €1.8 million.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Eksimbanka
11000 Beograd
Trg Nikole Pasica 10
P.O.Box 119
Email: cpeksimbanka@sezampro.yu
Phone: (+381 11) 32 44 323
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EBRD contact:
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Alexandru Tanase, Operation Leader: tanasea@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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