Credit Bank of Moscow - Equity Investment

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 43260

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 43260

Status Complete

Location

Russia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

29 May 2012

Disclosure date

23 Apr 2012

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

Equity investment for 7.5% stake and voting rights in Credit Bank of Moscow (CBM), an existing partner bank of EBRD in Russia. The investment will be made via subscription to newly issued ordinary shares.

The investment will support further development of one of the larger and most dynamic Russian private banks and will enable it to achieve its business and corporate governance objectives.

Transition Impact

The project aims to achieve the following objectives:

support a dynamic private bank in Russia to capitalise on its successful recent growth and implement its strategy to become one of the leading universal private banks;
strengthen CBM’s capital platform for further business growth;
contribute to CBM’s further institutional strengthening and corporate governance;
assist CBM to carry out anticipated IPO, thus achieving positive demonstration effect.

The Client

CBM is a universal bank operating in Moscow and Moscow region with a focus on private mid-sized corporate clients and increasing retail operations. It has been one of the fastest growing banks in Russia since 2008 having moved from the 60th to 21st position among Russia’s largest banks.

EBRD Finance

Equity: 7.5% of capital and voting rights after completion.

Environmental Impact

Categorised FI.

CBM is compliant with the EBRD's Performance Requirements for Financial Institutions (PR2 and PR9). CBM received Environment and Social Due Diligence training from the EBRD in 2010. The bank has a written environmental policy and procedures, has adopted the joint EBRD/IFC Exclusion and Referral List, requires compliance with national Environment, Health and Social requirements and provides satisfactory annual reports to the Bank.

CBM will be required to continue its compliance with EBRD requirements, adopt and implement EBRD E&S Procedures for Corporate Lending and submit annual environmental and social reports to EBRD.

Technical Cooperation

None.

Company Contact

Pavel Voronov, Director, International Business and FI Division

E-mail: voronov@mkb.ru

Tel: +7 (495) 797 4222

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