Project description
and objectives:
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The proposed project is a convertible subordinated loan to Probusinessbank to support its plans for regional expansion by means of acquiring medium size regional Russian banks. The objective is to assist Probusinessbank in reaching out from its Moscow base into certain key regions to increase its market share in a consolidating banking market.
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Transition impact:
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The project is expected to have transition impact in three main areas:
- In supporting projects focused on consolidation it will create stronger and larger banks committed to best practices and financing of private sector enterprises.
- It will secure demonstration effect by supporting the growth of a private bank that is committed to high standards of transparency and corporate governance.
- It will strengthen the ability of regional banks to fulfil their role as financial intermediaries since the transfer of know-how, product development experience and risk management expertise will allow the acquired banks to compete better in their local markets.
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The client:
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Probusinessbank, a privately-owned Russian bank with its headquarters in Moscow.
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EBRD finance:
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Convertible subordinated loan of US$ 14 million
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Total project cost:
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US$ 16 million
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Environmental impact:
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Probusinessbank will be required to comply with EBRD's Environmental Procedures for Intermediated Financing through Local Banks, including compliance with the applicable national environmental, health and safety legislation, adherence with EBRD's Environmental Exclusion List and submission of annual environmental reports to the Bank.
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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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Edward Panteleev, Senior Vice President
Fax: +7 095 250 6591
Website: www.prbb.ru
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EBRD contact:
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Inna Yabbarova, Operation Leader: yabbaroi@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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