Bank Saint Petersburg - Equity Investment

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 42479

Status Disbursing

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 42479

Status Disbursing

Location

Russia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

01 Jun 2011

Disclosure date

08 Jun 2011

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."

Translated version of this PSD: Russian

Project Description

The EBRD’s Board of Directors has approved an equity investment involving the purchase of newly issued ordinary voting shares of BSP representing after subscription around 6.1% of the bank’s capital and voting rights (around 5.0% after conversion of BSP’s existing preference shares in 2013).

The project will improve the quality of BSP’s capital by replacing tier-2 subordinated debt with equity and will support the largest and the strongest privately-owned market-player in the region.

BSP’s majority shareholders see the major value of attracting the EBRD as an equity investor in the Bank’s potential contribution to strengthening corporate governance and further institutional development.

Transition Impact

The equity investment will increase t BSP’s ability to provide MSMEs with longer maturity loans. The project aims to improve the competitiveness of BSP and the Russian private banking sector overall vis-à-vis state-owned banks.

The EBRD will be able to exercise an effective role in the corporate governance of the bank through its nominee director on the Supervisory Board of BSP.

The Client

BSP is a listed bank and an existing client of the EBRD that has established a positive track record both before and during the crisis in its home region of the North West Federal District (NWFD) of Russia where it is the largest private bank.

At April 1, 2011, BSP was the 16th bank in Russia by assets. As at June 1, 2011, the bank is controlled by management (56.43%), the free float represents 25.54% of the shares and 18.03% belong to significant minorities.

EBRD Finance

Equity investment into newly issued ordinary voting shares of BSP, representing after subscription around 6.1% of capital and voting rights (around 5.0% after conversion of BSP’s existing preference shares in 2013).

Project Cost

N/A

Environmental Impact

Categorised FI: BSP is required to comply with EBRD’s Performance Requirements 2 and 9 and implement the EBRD’s Environmental and Social Procedures for Corporate Lending across its entire portfolio. BSP is required to submit annual environment and social reports to the Bank..

Technical Cooperation

None.

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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