STOPANSKA BANKA CAPITAL INCREASE II (PORTAGE EQUITY)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 27769

Status Complete

Location

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 27769

Status Complete

Location

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

23 Jul 2002

Disclosure date

10 Jun 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

Proposed pro-rata participation in the forthcoming capital increase of up to €1.8 million in Stopanska Banka (SB), the largest bank in FYR Macedonia. The EBRD would participate in the capital increase alongside National Bank of Greece (NBG), the strategic investor, and IFC. The equity investment would strengthen SB capital and allow the bank to continue the clean-up of its lending portfolio and upgrade its branch network and IT systems.

Project objectives:

Assist SB in strengthening its capital base and further support the bank’s development and restructuring;

Attract additional funding sources to promote the bank’s lending activities and support SB’s strategy of increasing its lending to the SME sector.

Transition Impact

The proposed participation in the capital increase is instrumental to signal the EBRD commitment to the development of the local banking sector as well re-confirming its support to SB as a leading local financial institution while further restructuring is carried forward.

The Client

SB is the largest universal bank in FYR Macedonia with total assets exceeding €446 million and equity of €42 million according to IAS accounts as of end-2001. It is a universal bank with the headquarters in Skopje offering a wide range of banking products to corporate and retail clients. Its countrywide network consists of 23 branches and 370 teller points.

EBRD Finance

Project Cost

€4.3 million.

Environmental Impact

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

Technical Cooperation

In 1995 the Japan - Europe Cooperation Fund financed a €350 000 financial and operational audit of Stopanska Banka carried out by Delloite Touche Tohmatsu.

Company Contact

Transition impact

ETI Score:60

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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