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 MACEDONIJA AD
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
viktorija.jovanovska@sparkasse.mk
+389 75 495 018
+ 389 2 3200 515
https://sparkasse.mk
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
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
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
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.
