Project description
and objectives:
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The proposed project envisages that the EBRD will acquire a shareholding stake
of up to 25% plus one share in Bank Kedr through the acquisition of the newly
issued shares of Bank Kedr in the third quarter of 2006. The EBRD’s equity
investment will allow Bank Kedr to continue developing its growing SME
business and expanding geographically.
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Transition impact:
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Improving financial intermediation in the Russian regions is one of the key
transition impact objectives of the EBRD in Russia. The proposed transaction
will provide equity capital to Bank Kedr, a bank that has a strong local
reputation and wide regional branch network, and thus will contribute to
increasing the availability of financial services in Krasnoyarsk region and
other regions, where Bank Kedr operates. The EBRD will seek to support Bank
Kedr in strengthening its institutional capacity and enhancing corporate
governance.
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The client:
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Bank Kedr is a regional Russian bank with headquarters in Krasnoyarsk. Bank
Kedr is a leading private commercial bank in Krasnoyarsk region with a network
of over 40 branches and offices covering the entire territory of the large
Krasnoyarsk region.
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EBRD finance:
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Equity investment. The EBRD will acquire Bank Kedr’s newly issued shares.
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Total project cost:
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Up to USD 12 million.
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Environmental impact:
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Bank Kedr will be required to apply EBRD’s Environmental Procedures for Local
Banks to all commercial lending activities including sub-loans financed
through the SME Credit Line, and to submit annual environmental reports to the
Bank.
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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. Mikhail Stavitsky
Deputy Chairman of the Management Board
Bank
Kedr
Krasnoyarsk 660021, 33 Vokzalnaya str.
Tel. +7 3912 65 09 37
Fax +7 3912 65 09 23
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EBRD contact:
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Konstantin Soshnikov, Operation Leader: soshnikk@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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