Sparkasse bank Macedonia - 2nd mortgage

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 51578

Status Repaying

Location

North Macedonia

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 51578

Status Repaying

Location

North Macedonia

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

15 Jan 2020

Disclosure date

02 Dec 2019

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."

Sparkasse bank Macedonia - 2nd mortgage (Macedonian) (PDF, 0.23MB)

Project Description

A senior loan of up to EUR 3 million to Sparkasse Bank Macedonia ('SBM') for on-lending to eligible private individuals for housing purposes.

Project Objectives

The proceeds of the loan will be used by SBM to provide long-term financing for residential mortgage lending in North Macedonia.

Transition Impact

This project will support SBM's competitiveness by providing much-needed long term funding to support the growth of the retail portfolio. Mortgage lending is the backbone of SBM's retail growth plans. The adherence to Minimum Standards and improvement of the maturity structure will contribute to the Competitive and Resilient qualities.

Client Information

SPARKASSE BANK MACEDONIJA AD

Sparkasse Bank Makedonija ("SBM") is a universal commercial bank, that is the 7th largest bank in Macedonia with a 4% market share by total assets. SBM is fully owned by Steiermarkische Bank und Sparkassen AG, Austria ("STSP"). STSP has just acquired 2nd bank on the Macedonian market - Ohridska Banka (OB) from Soc Gen. (5th largest, with around 8% market share). SBM and OB will be merged in 2021, after which the new bank will be the 4th largest on the market with 12-13% market share.

EBRD Finance Summary

EUR 3,000,000.00

EUR 3 million available in one tranche.

Total Project Cost

EUR 3,000,000

Environmental and Social Summary

Categorised FI (2014 ESP). SBM is an existing client and has provided satisfactory Annual E&S Reports to Bank to date. SBM will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9, apply the EBRD E&S Risk Management Procedures for Mortgage Lending and submit Annual E&S Reports to the Bank.

Technical Cooperation

No TC is foreseen with this project.

Company Contact Information

Viktorija Jovanovska
viktorija.jovanovska@sparkasse.mk
+389 75 495 018
+ 389 2 3200 515
https://sparkasse.mk
Makedonija Street 9-11, 1000 Skopje

Transition impact

ETI Score:60

PSD last updated

02 Dec 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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