UNIONBANK (EQUITY)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 21083

Status Complete

Location

Bulgaria

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 21083

Status Complete

Location

Bulgaria

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

23 Jul 2002

Disclosure date

03 May 2002

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

The project will allow the bank to strengthen its position as a leader in banking services to SMEs. The bank will expand and improve the range of its services through investments in new products, management information systems, branch network and services. The bank also intends to contribute to the consolidation of the Bulgarian banking sector through mergers or acquisitions activity.

Transition Impact

The project is expected to contribute to the further strengthening and consolidation of the Bulgarian banking sector. It will also demonstrate the EBRD's commitment to the long-term financing of SMEs. In addition, it will demonstrate the EBRD's commitment to work with banks and companies backed by local Sponsors.

The Client

Commercial bank Unionbank (CB Unionbank a.d.) is a Bulgarian financial institution that specialises in providing banking services to small and medium sized Bulgarian companies.

EBRD Finance

Initial equity investment of up to €3.1 million followed by capital increases during the period 2007 – February 2010 of €1.7 million and planned participation in a series of follow-on capital increases of up to €3.1 million in the period 2010 – May 2013.

Project Cost

Up to €3.1 million equity investment at the initial stage (2002), share capital increases in the period 2007 – February 2010 of €28.6 million and up to €51 million of the follow-on capital increases in 2010 – May 2013.

Environmental Impact

The bank will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, the bank will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.

Technical Cooperation

None.

Company Contact

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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