Translated version of this PSD: Serbian
EBRD is providing a senior loan of up to €30 million to Banca Intesa a.d. Beograd (`BIB`) for onlending to private individuals.
The proceeds of the loan will be used by BIB to provide long-term financing for residential mortgages in Serbia.
Transition impact is expected to derive from the expansion of the mortgage market in Serbia through provision of long term funding. Mortgage penetration remains low in Serbia and local banks reduced mortgage lending in recent years.
BANCA INTESA AD BEOGRAD
Banca Intesa Belgrade is a long-standing partner of the EBRD and the largest bank in Serbia with the leading position in corporate and retail lending. With total assets of EUR 4.0bn as of 30 June 2015 it accounts for 16.2% of banking assets in Serbia. BIB has been one of the most profitable banks in Serbia for many years, thanks to good diversification and efficient operations. In retail lending, the mortgage business is one of the key products which accounts approximately 57% of the retail book.
EBRD Finance Summary
Up to €30 million available in two tranches
Total Project Cost
Up to €30 million.
Environmental and Social Summary
Categorised FI (ESP 2014): BIB an existing client and is satisfactorily implementing the EBRD's E&S requirements. It will be required to comply with EBRD`s Performance Requirement (`PR`) 9 when making mortgage loans, continue to conduct their business in accordance with PR 2 and 4, implement the EBRD`s E&S Procedures for Mortgage lending and submit Annual Environmental and Social Reports to the Bank. BIB will be required to continue to submit annual environmental and
social reports to the Bank.
Company Contact Information
Ms. Milena Perazic
+ 381 11 201 1402
Banca Intesa ad Beograd Milentija Popovica 7b 11070 Novi Beograd
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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