Spurt Bank Equity Investment

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 36902

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 36902

Status Complete

Location

Russia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

19 Sep 2006

Disclosure date

18 Aug 2006

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 to purchase a significant minority stake of Spurt Bank’s capital and voting rights by means of the acquisition of existing shares. Spurt Bank is a regional bank headquartered in Kazan, Republic of Tatarstan (RoT). Spurt Bank is currently mostly a corporate bank that has recently introduced an SME and retail strategy and the Bank’s investment is intended to support this process.

Transition Impact

The transition impact potential of the Project arises mainly from its support of a transformation of a regional bank based in the RoT into a bank positioned for regional expansion and operating according to best practice standards of corporate governance and business conduct. The Project will support the implementation of the bank’s strategy of regional expansion and development of its SME and retail lending activities.

The equity investment is designed to cement the corporate governance and institutional improvements that are already under way in Spurt Bank.

EBRD plans to provide technical assistance under the Regional Institution Building Program to Spurt Bank to enhance the bank’s operations.

The Client

Spurt Bank, the 4th largest bank by capital in the RoT established in 1992.

EBRD Finance

To be confirmed.

In 2005 SB received an SME loan from EBRD in the amount of RUB 280 million that had an energy efficiency component for SME borrowers.

Project Cost

To be confirmed.

Environmental Impact

Spurt Bank will be required to adopt the EBRD’s Environmental Procedures for Intermediated Financing through Local Banks and to apply these procedures to the whole range of its commercial lending operations. This includes adherence to the FI Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety and labour legislation, appointment of a member of senior management with overall responsibility for the implementation of environmental procedures, and submission of annual environmental reports to EBRD.

Technical Cooperation

TC may be provided at a later stage (estimated at EUR 250,000) within the Regional Institution Building Framework.

Company Contact

Mr. Alexei Zemlyakov, Vice President
e-mail: azemlyakov@spurtbank.ru

Telephone: +7 8432 –915104
Fax: +7 8432 – 915017

Transition impact

ETI Score:60

PSD last updated

21 May 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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