Hypo Banka Croatia (equity)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 3489

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 3489

Status Complete

Location

Croatia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

17 Dec 1996

Disclosure date

21 Nov 1996

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

EBRD will take a 24.99 per cent stake in Hypo Banka Croatia while Kärntner Landes und Hypotheken-bank (KH) of Austria will take 75.01 per cent in the capital of this newly established Croatian bank. The operation has supported the capitalisation of a new financial intermediary in Croatia which is contributing to increasing competition in the banking sector.

Transition Impact

This operation will help to: a) increase availability of funding for the development of the local Croatian economy; b) increase sector competition with the introduction of innovative banking products at competitive prices; c) integrate the Croatian economy within the EU market; d) transfer banking know-how to local staff who will eventually take charge of the local operations.

The Client

Hypo Banka Croatia (HBC) has been established to support the development of the local financial institutions sector, with the introduction of high quality banking products and services. HBC is operating as a universal bank and offers to Croatian and foreign customers a complete range of products and via its mother company a network of branches and subsidiaries in southern Austria, north-east Italy, Slovenia and Croatia.

EBRD Finance

The EBRD has purchased 4,612 newly issued registered shares with a nominal value of HRK 4,000, with a total investment of HRK 18.5 million (ECU 2.7 million equivalent).

Project Cost

HRK 73.8 million (ECU 10.8 million).

Environmental Impact

This financial intermediary project will have no direct impact on the environment. HBC has agreed to carry out its operations in accordance with the EBRD's "Environmental Procedures for Local Banks". In implementing these procedures, HBC will require its borrowers to comply with Croatian health and safety, environmental and public consultation requirements. HBC will submit an annual environmental report to the Bank.

Technical Cooperation

Technical cooperation funding has been used for the training of HBC staff in environmental procedures.

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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