MDM BANK (F.URSA BANKA)

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 34907

Status Complete

Location

Russia

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 34907

Status Complete

Location

Russia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

07 Sep 2004

Disclosure date

06 Aug 2004

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 an equity investment in Sibacadembank to acquire 25% of voting rights plus one share in the leading private bank in western Siberia. The investment will increase Sibacadembank’s capital base and is designed to support the bank’s growth as it expands its corporate and retail lending activities throughout its network of offices in Siberia.

Transition Impact

The project will promote financial intermediation and competition in the banking sector through its support of a private regional bank that is developing dynamically in its local market and expanding the range of banking products for its client base.

EBRD participation in Sibacadembank is intended to set an example for other regional banks that a well-managed private bank can compete successfully in its market niche with state banks and banks which are members of industrial-financial groups.

By setting high standards for corporate governance the project is designed to assist Sibacadembank in meeting international standards of transparency and business conduct.

The Client

Sibacadembank is a universal bank established in 1990 in Novosibirsk which has developed rapidly over recent years to occupy a leading position in its local banking market. Sibacadembank has one of the most widespread presences in Siberia, with seven branches, 28 sub-branches and 18 additional outlets in seven oblasts. The bank is particularly well-placed to extend its retail banking and plastic card activities over the near term, while continuing to expand its lending to SMEs under the Russia Small Business Fund.

EBRD Finance

Equity investment of up to US$ 9.8 million by means of subscription to newly issued ordinary shares.

Project Cost

Up to US$ 9.8 million

Environmental Impact

Sibacadembank will be required to comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks, including adherence to the Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety legislation, and submission of annual environmental reports to EBRD.

Technical Cooperation

None.

Company Contact

Mr. Ilya Mittelman, Deputy Chairman of the Management Board

e-mail: mitelman@mtbank.ru

telephone: +7 095 290 6500
fax: +7 095 290 6500

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.

Our story

How we invest in changing lives

What we offer for businesses

Search