Project description
and objectives:
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The proposed project involves the provision of a long-term loan to SGYB in support of its residential mortgage lending operations.
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Transition impact:
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The banking sector intermediation level in Serbia is still low compared to other CEE countries. Limited access to long-term funding is one of the impediments for higher lending activity by banks. The long-term loan from the EBRD will allow SGYB to increase its mortgage lending operations in the market where this type of lending is only developing.
SGYB will be required to use in its mortgage lending activities a standardised loan documentation lending procedure which will allow for issuance of mortgage backed securities in the future.
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The client:
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SGYB was established in 1990 as a joint-venture bank. Since 2001, it is a full subsidiary of Société Générale, Paris. Over the past three years SGYB’s operations have grown significantly as a result of expanded product range to retail and corporate customers. To date, SGYB is the 8th largest bank by total assets in Serbia with a branch network of 22 offices.
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EBRD finance:
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Residential mortgage loan in the amount of € 10 million.
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Total project cost:
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Residential mortgage loan in the amount of € 10 million.
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Environmental impact:
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Société Générale Yugoslav Bank will carry out its operations in accordance with the EBRD's Environmental Procedures for Residential Mortgage Lending. SGYB will require a survey for each property financed on the primary market to ensure, among other things, that environmental, health and safety issues such as contaminated land and the presence of harmful materials are identified and any applicable standards for health and safety are met. SGYB will provide the Bank with annual environmental, health and safety reports and notifications on material issues that may have environmental, health and safety implications.
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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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Société Générale Yugoslav Bank
Vladimira Popovica 6,
11070 Belgrade
Serbia and Montenegro
Tel: (381) 11 145 190
Website: www.socgenyu.com
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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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