Sparkasse bank Macedonia - 2nd mortgage


North Macedonia

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

15 Jan 2020



PSD disclosed:

02 Dec 2019

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 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
+389 75 495 018
+ 389 2 3200 515
Makedonija Street 9-11, 1000 Skopje

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

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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