ZABA - 2ND MORTGAGE FINANCE FACILITY

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 34152

Status Complete

Location

Croatia

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 34152

Status Complete

Location

Croatia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

30 Sep 2003

Disclosure date

27 Jun 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 EBRD will make a senior loan of up to €100 million to Zagrebacka Banka d.d. (ZABA) which will enable ZABA to provide long-term mortgage loans for purchase or renovation of individual residences. In addition, ZABA will work with the EBRD towards standardisation of all its credit assessment procedures and loan documentation to prepare the ground for future securitisation.

Transition Impact

Transition impact potential derives from the demonstration effect associated with supporting the growth of mortgage lending in Croatia. Further development of the mortgage market would also contribute to the development of financial markets by providing possible long-term tradable securities in the future. Supporting the growth of ZABA and the diversification of its funding base will strengthen the banking sector by providing much-needed long-term financing and increasing competition.

The Client

Zagrebacka banka d.d. (ZABA), the largest financial services group based in Croatia. ZABA provides a full range of retail and corporate banking services for its customers in Croatia and neighbouring Bosnia and Herzegovina. As of the end of 2002 ZABA had total assets of €7.3 billion, total shareholders' equity of €586 million and was rated BBB- by Standard & Poors and Fitch and Ba1 by Moodys.

EBRD Finance

Loan of up to €100 million.

Project Cost

€100 million

Environmental Impact

The environmental impact from the project will be low as the borrower is committed to comply with the financing restrictions stated on EBRD's Environmental Exclusion List for Financial Institutions as well as with EBRD's Environmental procedures for Intermediate Financing through Local Banks.

Technical Cooperation

None.

Company Contact

Tomica Pustisek
Retail Network Division Director
Zagrebacka banka
Paromlinska 2
10000 Croatia
Fax: +385 1 6110 533
Website: www.zaba.hr

Transition impact

ETI Score:35

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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