Alior Bank S.A. Equity Investment

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 44577

Status Complete

Location

Poland

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 44577

Status Complete

Location

Poland

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

13 Nov 2012

Disclosure date

21 Nov 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."

Project Description

EBRD is considering an equity investment up to PLN 320 million for no more than 10% (minus 1 share) stake in Alior Bank S.A. (“Alior” or the “bank”) by participating in its planned initial public offering (IPO) on the Warsaw Stock Exchange (WSE). Alior aims to raise up to PLN 700 million of new capital as part of the offering of new and existing shares to domestic and international investors.

The proposed investment will contribute to a full transition of Alior from a bank privately held by a controlling shareholder into a listed company with a broad shareholder base of institutional and domestic retail investors through an IPO on the WSE while providing new equity capital for an innovative and fast growing bank in Poland.

Transition Impact

Categorised FI

The main transition rationale for the EBRD’s involvement is to:

1. Support development of the local currency capital market: ownership transition and creation of stable high-quality shareholder base for the long term;

2. Set standards for corporate governance and business conduct; and

3. Demonstration of new banking products (innovation).

The Client

Alior is a universal middle-sized Polish bank providing a full range of products and services mainly for individual customers and SMEs. As of 30 September 2012, it had total assets of PLN17.8bn and total equity of PLN1.45bn and in the first 9 months of 2012 generated a net profit of PLN223m. The bank started its operations in 2008 and ranked 16th in Poland by total assets in 2011 according to data from the Polish Financial Supervision Commission.

EBRD Finance

Equity investment up to Polish Zloty 320 million for no more than 10% (minus 1 share) of the share capital and voting rights of Alior following the IPO subject to certain conditions.

Project Cost

Up to PLN 2,546 million including PLN 700 million in primary shares.

Environmental Impact

Alior will be required to comply with EBRD’s Performance Requirements for Financial Institutions: PR 2 (Labour and Working Conditions) and PR 9 (Financial Intermediaries). The bank will be required to adopt and implement EBRD Environmental and Social Procedures for Corporate Lending and submit an annual environmental and social report (AESR) to EBRD.

Technical Cooperation

None.

Transition impact

ETI Score:60

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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