Project number:


Business sector:

Non-depository Credit (non bank)

Notice type:


Environmental category:


Approval date:

14 Oct 2003



PSD disclosed:

12 Sep 2003

Project Description

The proposed project envisages provision of term financing to the Russian Standard Bank (RSB) to facilitate development of its consumer finance operations and support expansion into regions of the Russian Federation. The loan will diversify RSB's funding base and leverage its capital.

Transition Impact

The project will contribute to further development of consumer finance in Russia, which is still in its infancy. RSB was the first specialised institution in Russia to offer western-style consumer finance. RSB's success in the consumer finance sector promotes competition and business innovation, which in turn leads to reduced rates, broader range of consumer finance products and affordability of loans to a larger number of households.
With additional funding, RSB will be able to achieve a broader regional outreach, thus making consumer finance available to a larger number of Russian families. At present consumer finance is available predominantly in large metropolitan areas.
The project has continuity with the original transaction with RSB which closed in October 2002. RSB's example confirms that well-managed private banks can compete successfully with state banks and pocket banks based on a strong business model, rather than political connections or state support.

The Client

Russian Standard Bank - a privately owned bank and the first Russian commercial bank with a strategic focus on consumer finance. Headquartered in Moscow.

EBRD Finance

US$ 20 million term loan for financing development of consumer finance portfolio, of which US$ 10 million shall be utilised for general consumer finance and US$ 10 million for car loans.

Project Cost

US$ 20 million

Environmental Impact

There are no environmental risks associated with the consumer financing, therefore there will be no environmental requirements associated with this operation.

Technical Cooperation


Company Contact

Nina Filimonova, Vice President, International Department.
Tel.: +7 095 797 84 05
Fax: +7 095 797 84 40

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

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Text of the PIP

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