Erste Bank Croatia-Senior LOAN MSME Financing



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Target board date:

18 Sep 2012



PSD disclosed:

07 Jun 2012

Translated version of this PSD: Croatian

Project Description

The EBRD is considering providing a senior loan of up to €40 million to Erste & Steiermärkische Bank d.d. Rijeka in Croatia for on-lending to micro, small and medium-sized enterprises (SMEs) and corporate clients.

Transition Impact

The Bank’s financing will support the third largest banking group in Croatia in enhancing access to financing for micro, SME and corporate clients. The EBRD’s facility will, in particular, be channelled to the real economy via long-term investment loans, working capital facilities as well as other financial products, like factoring to respond to current operational challenges faced by private companies and help them enhance their competitiveness in the advent of Croatia’s accession to the European Union in 2013.

The Client

Erste & Steiermärkische Bank d.d. Rijeka (ESB) is the third largest bank in Croatia according to assets size, wholly-owned by ESB Holding GmbH.

At the end of March 2012, ESB had €8.64 billion in assets, €925 million in equity and recorded €22 million of net profit in Q1 2012.

EBRD Finance

€40 million long-term senior loan to Erste & Steiermärkische Bank d.d. Rijeka.

Project Cost

€40 million.

Environmental Impact

Screened FI. ESB will be required to continue to comply with national legal requirements and with the EBRD's Environmental and Social Policy and Procedures for Local Banks, including PR 2 and PR9. This will also include adherence to the EBRD's Environmental and Social Exclusion and Referral Lists, and submission of annual environmental and social reports to the Bank.

Technical Cooperation


Company Contact

Dario Gabrić, Head of Communication Department

Tel: ++385 (0)99-237-1371


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer ( is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.