Intesa SanPaolo Bank BiH - Mortgage Line II


Bosnia and Herzegovina

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

16 Dec 2020



PSD disclosed:

22 Oct 2020

Project Description

Provision of a senior loan of up to EUR 10 million to Intesa Sanpaolo Banka d.d. BiH ("ISP BiH") for on-lending to eligible private individuals for housing purposes. The facility will contribute to the development of the local financial sector, mainly its mortgage lending segment, and to the improvement of housing conditions of private individuals.

Project Objectives

The proceeds of the loan will be used by ISP BiH to provide long-term financing for residential mortgage lending in Bosnia and Herzegovina.

Transition Impact

ETI score: 60

Transition impact is expected to derive from (i) the expansion of the mortgage market in Bosnia and Herzegovina; (ii) working together with authorities on the introduction of macro prudential standards for mortgage lending and; (iii) ISP BiH's application of strong underwriting standards on the sub-loan portfolio.

Client Information


ISP BiH is the third largest bank in Bosnia and Herzegovina with assets of EUR 1,193.5 million and market shares of 7.2% by total assets, 8.0% by customer loans and 7.0% by customer deposits as of YE 2019. The company is headquartered in Sarajevo and services the entire territory of Bosnia and Herzegovina through electronic channels and a network of 48 branches. At YE 2019, the bank had 556 employees.

EBRD Finance Summary

EUR 10,000,000.00

Total Project Cost

EUR 10,000,000.00


Additionality is achieved by combining long-term financing which is not available in the market from commercial sources on reasonable terms and by providing risk mitigation to support lending for housing during the current Covid-19 crisis.

Environmental and Social Summary

Categorised FI (ESP 2019). ISP BiH is an existing client and has provided satisfactory annual E&S Reports to the Bank to date. The 2019 AESR will be reviewed prior to FRM to confirm compliance. ISP BiH is required to continue to comply with PRs 2, 4 & 9, implement the EBRD's E&S Risk Management Procedures for Mortgage Lending including adherence to the expanded EBRD E&S Exclusion List and Referral List introduced with ESP 2019 and submit annual E&S reports to the Bank. Sub-borrowers financed through ISP BiH's loan will be required to comply with national environmental, health, safety and labour (EHSL) requirements.

Technical Cooperation and Grant Financing


Company Contact Information

Murat Cengic
+387 33 49 77 11
+387 33 49 78 18
Obala Kulina bana 9a 71000 Sarajevo Bosna i Hercegovina

PSD last updated

22 Oct 2020

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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