Project description
and objectives:
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The proposed capital increase will strengthen Inexim’s equity and maintain
EBRD’s 25% shareholding in the bank. The capital increase will allow Inexim to
continue to finance the growing private enterprise sector, small and micro
enterprises, and also expand the retail trade finance business. EBRD will
continue to have two representatives at the Board of Directors and promote
best business practices.
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Transition impact:
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The EBRD’s investment is important in providing support for the Kyrgyz banking
sector and increasing the availability of a wide range of financial products
to local enterprises.
Effective corporate governance and high business standards will provide a good
benchmark for other local banks.
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The client:
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Headquartered in Bishkek, Inexim is the second largest bank in the Kyrgyz
Republic and the largest lender to the local economy, up from sixth position
in 2003. The bank is an active participant of different IFIs programmes,
including Kyrgyz MSE Financing Facility and Trade Facilitation Programme
(‘TFP’) of the EBRD. In 2004 the bank received an award from the EBRD as the
best TFP bank in the Kyrgyz Republic. Last year the bank opened three new
branches in the regional centers of the country and now operates through 4
branches and 5 outlets.
The bank’s primary business consists of corporate banking, trade finance,
retail banking, plastic cards services, international payment and foreign
exchange.
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EBRD finance:
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Equity investment of up to KGS 62.5 million.
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Total project cost:
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Approximately KGS 250 million, which includes participation of other
shareholders in Inexim's capital increase.
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Environmental impact:
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Screened FI.
Inexim Bank will continue to carry out its operations in accordance with
EBRD's Environmental Procedures for Local Banks across the full range of its
operations. In implementing these procedures, Inexim Bank requires its
borrowers to comply, at a minimum, with national health, safety and
environmental 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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Ruslan Boronbaev, Deputy Chairman of the Board
57, K. Akiev Street
Bishkek,
720001
Kyrgyz Republic
E-mail: Ruslanb@ineximbank.com
Website:
www.ineximbank.com
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EBRD contact:
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Tatyana Tyo, Operation Leader: tyot@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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