Project description
and objectives:
|
The proposed project consists of an A/B syndicated loan to Promsvyazbank in an
aggregate amount of up to USD 300 million for the regional expansion and
development of retail activities, including consumer and car lending
programmes.
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Transition impact:
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The transition impact of the project is expected to be achieved in the
following main areas:
-
Financial intermediation and market penetration
Funding from
the EBRD will support the growing retail business of Promsvyazbank. The bank
will be encouraged to focus in particular on the financing needs of retail
customers in the regions which are still not sufficiently covered by banking
services.
-
Deepening of the syndication market
The project will be aimed
at diversifying the sources of commercial funding and extending the maturity
of the syndicated B-loan for Promsvyazbank for up to 3 years (while the EBRD
A-Loan will be for up to 5 years), thus enabling it
(i) to finance
loans that are currently beyond its reach due to liquidity and maturity
mismatch concerns and
(ii) to serve the needs of retail customers
that do not have access to medium to long term funding.
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The client:
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Promsvyazbank was established in 1995 as a specialised bank servicing the
needs of large companies in the communication sector; however, over time it
evolved into a large universal bank offering the full range of services in
over 30 Russian regions.
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EBRD finance:
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Up to USD 100 million.
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Total project cost:
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Up to USD 300 million.
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Environmental impact:
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Promsvyazbank will be required to comply with EBRD’s Environmental Procedures
for Intermediated Finance through local banks and to apply them to all
commercial lending activities under the syndicated loan including SME
sub-loans. The implementation of the above procedures will ensure
Promsvyazbank’s compliance with the applicable national environmental, health
and safety legislation, adherence to the EBRD’s Environmental Exclusion and
Referral List for FIs, appointment of a member of senior management
responsible for the implementation of the environmental procedures, and
submission of annual environmental reports to the Bank.
Promsvyazbank’s representatives have also attended the EBRD’s environmental
and social risk management training for Russian FIs in Moscow in April 2006.
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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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Anna Belyaeva
Deputy Director, Head of Financial Institutions
International
Business Department
Promsvyazbank
fax + (7 495) 411 5551
E-mail: belyaeva@psbank.ru
Web site: www.psbank.ru
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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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