DM 18 million subordinated convertible loan to Bankas Hermis, Lithuania.
The facility would strengthen the capital base of Bankas Hermis and enable it to continue its development according to its strategic plans. It would also provide the bank with longer-term financial resources, which in turn will facilitate longer-term lending activities and help maintain adequate liquidity of the bank.
The project will help to strengthen the financial sector in Lithuania, improving its capitalisation and providing additional much-needed longer-term funds for the economy.
Bankas Hermis is a privately owned commercial bank and one of the leading banks in the country. A majority of the shareholders are foreign institutions. The bank is in a rapid expansion phase, and the additional capital resources will support its continuing growth.
The EBRD will provide a subordinated convertible loan of up to DM 18 million (ECU 9.5 million).
DM 18 million (ECU 9.5 million).
Bankas Hermis will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, Bankas Hermis will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.
For business opportunities or procurement, contact the client company.
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