Project description
and objectives:
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The proposed project is a senior loan of RUB 830 million to Bank Renaissance
Capital, a Moscow-based consumer finance bank of the Renaissance Capital
Group. The proceeds of the loan will go towards financing the portfolio of
consumer loans in the Russian Federation.
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Transition impact:
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The proposed Russian Rouble loan will further advance availability of local
currency funding for Russian citizens. Lack of funding, especially of local
currency funding, is a major impediment to growth in the Russian consumer
finance sector.
The project will increase the competition in the consumer finance market in
Russia by supporting the entry of the new strong participant. This helps to
expand the market both through lowering over time the interest rates and
increased range of local currency credit products.
The project will also demonstrate that well-managed private banks can compete
successfully based on a strong and innovative business model. Renaissance
Capital has demonstrated its commitment to transparency and best practice in
the investment banking sector and will implement its experience also in the
consumer credit sector.
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The client:
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Bank Renaissance Capital is the consumer finance bank of the Renaissance
Capital Group, headquartered in Moscow and operating in more than 20 regions
in Russia. Renaissance Capital Group is one of the leading independent
investment banks in Russia.
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EBRD finance:
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RUB 830 million (USD 30 million) senior term loan for financing the
development of consumer finance portfolio.
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Total project cost:
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USD 30 million.
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Environmental impact:
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There are no environmental risks associated with the consumer financing,
therefore there will be no environmental requirements associated with this
operation.
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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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Alexey Levchenko, Chairman of the Management Board
Tel: +7 095 783 4600
Fax: +7 095 783 4601
E-mail: Alevchenko@rccf.ru
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EBRD contact:
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Yerbolat Rakhmetov, Operation Leader: rakhmety@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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