RUSSIAN STANDARD BANK TERM LOAN

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 33913

Status Complete

Location

Russia

Business Sector

Notice Type

Private

Project timeline

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

Project ID 33913

Status Complete

Location

Russia

Business Sector

Notice Type

Private

Environmental Category

Approval Date

14 Oct 2003

Disclosure date

12 Sep 2003

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 proposed project envisages provision of term financing to the Russian Standard Bank (RSB) to facilitate development of its consumer finance operations and support expansion into regions of the Russian Federation. The loan will diversify RSB's funding base and leverage its capital.

Transition Impact

The project will contribute to further development of consumer finance in Russia, which is still in its infancy. RSB was the first specialised institution in Russia to offer western-style consumer finance. RSB's success in the consumer finance sector promotes competition and business innovation, which in turn leads to reduced rates, broader range of consumer finance products and affordability of loans to a larger number of households.

With additional funding, RSB will be able to achieve a broader regional outreach, thus making consumer finance available to a larger number of Russian families. At present consumer finance is available predominantly in large metropolitan areas.

The project has continuity with the original transaction with RSB which closed in October 2002. RSB's example confirms that well-managed private banks can compete successfully with state banks and pocket banks based on a strong business model, rather than political connections or state support.

The Client

Russian Standard Bank - a privately owned bank and the first Russian commercial bank with a strategic focus on consumer finance. Headquartered in Moscow.

EBRD Finance

US$ 20 million term loan for financing development of consumer finance portfolio, of which US$ 10 million shall be utilised for general consumer finance and US$ 10 million for car loans.

Project Cost

US$ 20 million

Environmental Impact

There are no environmental risks associated with the consumer financing, therefore there will be no environmental requirements associated with this operation.

Technical Cooperation

None.

Company Contact

Nina Filimonova, Vice President, International Department.
Email: filimonova@rs.ru
Tel.: +7 095 797 84 05
Fax: +7 095 797 84 40

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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