Project description
and objectives:
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The proposed project will provide the capital increase of up to USD 4.4
million (UAH 22 million) in Kredobank under the framework of Multi Bank Equity
Financing for Ukrainian Banks. The original transaction was approved as a
sub-project at the time of the approval for the framework (PSD released 04
August 1997 and updated on 25 March 2003).
The total capital increase of up to USD 15 million (EBRD portion: up to USD
4.4 million) will strengthen Kredobank’s capital base allowing further growth
of the bank’s business and compliance with NBU regulations.
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Transition impact:
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The project will provide Kredobank with Tier 1 capital and financial resources
needed for implementation of the medium-term strategy of Kredobank to develop
core banking business and in particular lending to private sector SME clients
and retail banking. Via Kredobank the EBRD aims to foster competition and
financial intermediation in the Ukrainian banking sector.
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The client:
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Kredobank (“the bank”) is a leading universal bank in Western Ukraine, with
headquarters in Lviv. The bank is owned by PKO BP, the largest Polish bank
(66.65%) and the EBRD (28.25%).
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EBRD finance:
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Equity investment under Multi-Bank Equity Financing Facility in Ukraine of up
to USD 4.4 million (EUR 3.6 million) by way of subscription to newly issued
ordinary shares of Kredobank as part of a capital increase.
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Total project cost:
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USD 4.4 million (UAH 22 million).
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Environmental impact:
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Kredobank is managing environment-related reputation and financial risks
through the implementation of the EBRD's environmental requirements within its
existing operations. Kredobank will continue to comply with the EBRD’s
Environmental Procedures for Local Banks which requires adherence to the
Environmental Exclusion and Referral List and compliance at a minimum, with
all applicable national regulations and standards for environment, health and
safety, labour and public information/consultation requirements. Kredobank
will submit annual environmental reports to the 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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Olga Lesyk
Email: management.board@wucb.lviv.net
Website: http://www.wucb.com.ua
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EBRD contact:
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Laura Budreviciute, Operation Leader: budrevil@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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