Project description
and objectives:
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The operation consists of USD 5.3 million equity investment for subscription
to the newly issued shares. Being part of a USD 21 million capital increase,
the investment will support development one of the leading private banks in
Southern Russia by increasing its capital, strengthening its operations, and
enhancing its competitive position in the region. The project will also
support the on-going improvements of Center-Invest Bank’s corporate governance
and internal systems, which were introduced at the time of EBRD’s initial
investment in September 2004, when EBRD acquired 25.23% shareholding in
Center-Invest Bank.
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Transition impact:
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Aimed at the increase of continuing insufficient financial intermediation in
the Russian market, the project’s transition impact will be most prominent in
the following three areas: (1) supporting development of a leading regional
bank and promoting financial intermediation; (2) improving corporate
governance and strengthening internal systems of Center-Invest Bank; (3)
enhancement of competition in the banking sector – as a result of the project
Center-Invest Bank will be able to assert itself as a credible regional
competitor to larger Moscow-based and state-owned banks.
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The client:
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Center-Invest Bank, a Rostov-on-Don based bank, one of the leading financial
institution in Southern Russia with excellent knowledge of the local market
and focus on small and medium companies financing and retail banking.
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EBRD finance:
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Equity investment of USD 5.3 million into newly issued ordinary shares.
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Total project cost:
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USD 5.3 million.
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Environmental impact:
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The client complies with EBRD’s Environmental Procedures for Intermediated
Finance through Local Banks, including compliance with applicable national
environmental, health and safety requirements, adherence to the Environmental
Exclusion and Referral List, submission of annual environmental reports to the
Bank and nomination of an officer responsible for environmental issues.
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Technical
cooperation:
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Institutional building consultant to be selected.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Ms. Gregory Chorayan, Member of the Management Board
Bank Center-Invest
62, prospect Sokolova,
Rostov-on-Don, Russia, 344010;
Tel. + 7 8632 675 833
Fax +7 8632 640 640;
E-mail: eurodept@centrinvest.ru
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EBRD contact:
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Yelena Tonna, Operation Leader: tonnay@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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