Project description
and objectives:
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The proposed project envisages a broadening of the EBRD relationship with
Rosbank with new term financing consisting of:
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USD 30 million mortgage loan; and
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USD 150 million syndicated loan under A/B structure, with EBRD finance of USD
50 million.
The project aims to assist the bank in developing its business in favour of
(i) private sector small and medium sized enterprises (SME) operating in the
Russian Federation and of (ii) retail customers with an offering of
residential mortgage products. Through syndication, the project will also
contribute in further diversification of the bank’s funding base.
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Transition impact:
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The proposed project will promote financial intermediation in Russia by using
the broad regional network of Rosbank/OVK to reach Russian SME and retail
customers with longer tenor funding, which is essential for capital financing
and mortgages.
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The proposed project is expected to foster competition in the banking sector
by giving borrowers in different regions across Russia greater choice in
accessing banking products which best fit their needs.
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Through benchmarks for high standards of corporate governance, business
practices and financial discipline, the project will further contribute to
institutional building of the bank.
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EBRD’s involvement in the syndicated loan transaction will contribute to
broadening the range of financing partners and lengthening the maturities of
funding provided by commercial banks.
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The client:
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Rosbank is a large universal bank, owned by Interros. The consolidation of
banking business of the OVK banking group, which was purchased in 2003 by
Interros, with Rosbank created one of the largest private banks in Russia with
the second largest regional branch network after Sberbank.
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EBRD finance:
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Term Loan of USD 80 million (EUR 67 million).
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Total project cost:
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USD 180 million (EUR 150 million).
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Environmental impact:
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Rosbank will be required to comply with EBRD’s Environmental Procedures for
Intermediated Financing through Local Banks and Environmental Guidelines for
Residential Mortgage Lending, including adherence to the Environmental
Exclusion and Referral List, compliance with the applicable national
environmental, health and safety legislation, and submission of annual
environmental reports to EBRD.
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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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Mr. Evgeny Yarovikov, Director of Financial Institutions Dept
Email: eYarovikov@rosbank.ru
Tel: +7 095 956 6727
Fax: +7 095 725 2404
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EBRD contact:
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Marina Petrov, Operation Leader: petrovm@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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