ALPHA BANK ROMANIA EQUITY INVESTMENT
Depository Credit (banks)
11 Feb 1997
10 Jan 1997
The original project consisted of an equity investment of US$ 4 million in the Bank of Bucharest, representing 20 per cent of the share capital. In August 1999 EBRD sold half of its participation to the main shareholder, Alpha Credit Bank, retaining a stack of 10 per cent of the shares.
Support of a developing private sector financial institution committed to the local market and expansion of its term lending operations for investment purposes;
Development of financial intermediation.
The loan will support the growth, development and strengthening of a quality private sector institution and the private sector in general by providing term funds needed for the development of private enterprises in Romania.
Bank of Bucharest is one of the leading private sector banks servicing the corporate and retail sectors in Romania. As at end of 1998 it had net worth totalling US$ 25.01 million and total assets of US$ 111.5 million.
The EBRD’s equity participation was instrumental in promoting one of the first greenfield investments in the Romanian banking sector.
US$ 20 million (EUR 8 million equivalent).
C/0: The project does not require an environmental analysis or an environmental audit. Sub-projects will be financed in accordance with the EBRD's environmental procedures for financial intermediaries. On an annual basis, Bank of Bucharest will report to the EBRD on environmental issues associated with the credit facility.
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Text of the PIP