Project description
and objectives:
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The proposed project envisages an equity investment to purchase a significant
minority stake of Spurt Bank’s capital and voting rights by means of the
acquisition of existing shares. Spurt Bank is a regional bank headquartered in
Kazan, Republic of Tatarstan (RoT). Spurt Bank is currently mostly a corporate
bank that has recently introduced an SME and retail strategy and the Bank’s
investment is intended to support this process.
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Transition impact:
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The transition impact potential of the Project arises mainly from its support
of a transformation of a regional bank based in the RoT into a bank positioned
for regional expansion and operating according to best practice standards of
corporate governance and business conduct. The Project will support the
implementation of the bank’s strategy of regional expansion and development of
its SME and retail lending activities.
The equity investment is designed to cement the corporate governance and
institutional improvements that are already under way in Spurt Bank.
EBRD plans to provide technical assistance under the Regional Institution
Building Program to Spurt Bank to enhance the bank’s operations.
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The client:
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Spurt Bank, the 4th largest bank by capital in the RoT established in 1992.
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EBRD finance:
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To be confirmed.
In 2005 SB received an SME loan from EBRD in the amount of RUB 280 million
that had an energy efficiency component for SME borrowers.
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Total project cost:
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To be confirmed.
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Environmental impact:
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Spurt Bank will be required to adopt the EBRD’s Environmental Procedures for
Intermediated Financing through Local Banks and to apply these procedures to
the whole range of its commercial lending operations. This includes adherence
to the FI Environmental Exclusion and Referral List, compliance with the
applicable national environmental, health and safety and labour legislation,
appointment of a member of senior management with overall responsibility for
the implementation of environmental procedures, and submission of annual
environmental reports to EBRD.
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Technical
cooperation:
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TC may be provided at a later stage (estimated at EUR 250,000) within the
Regional Institution Building Framework.
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. Alexei Zemlyakov, Vice President
e-mail: azemlyakov@spurtbank.ru
Telephone: +7 8432 –915104
Fax: +7 8432 – 915017
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EBRD contact:
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Mikhail Grechikho, Operation Leader: grechikm@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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