Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

16 Dec 2003



PSD disclosed:

11 Nov 2003

Project Description

The proposed project is a convertible subordinated loan to Probusinessbank to support its plans for regional expansion by means of acquiring medium size regional Russian banks. The objective is to assist Probusinessbank in reaching out from its Moscow base into certain key regions to increase its market share in a consolidating banking market.

Transition Impact

The project is expected to have transition impact in three main areas:
  • In supporting projects focused on consolidation it will create stronger and larger banks committed to best practices and financing of private sector enterprises.
  • It will secure demonstration effect by supporting the growth of a private bank that is committed to high standards of transparency and corporate governance.
  • It will strengthen the ability of regional banks to fulfil their role as financial intermediaries since the transfer of know-how, product development experience and risk management expertise will allow the acquired banks to compete better in their local markets.

The Client

Probusinessbank, a privately-owned Russian bank with its headquarters in Moscow.

EBRD Finance

Convertible subordinated loan of US$ 14 million

Project Cost

US$ 16 million

Environmental Impact

Probusinessbank will be required to comply with EBRD's Environmental Procedures for Intermediated Financing through Local Banks, including compliance with the applicable national environmental, health and safety legislation, adherence with EBRD's Environmental Exclusion List and submission of annual environmental reports to the Bank.

Technical Cooperation


Company Contact

Edward Panteleev, Senior Vice President
Fax: +7 095 250 6591

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

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

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