Banca Intesa Belgrade - Mortgage

Location:

Serbia

Project number:

50679

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

25 Apr 2019

Status:

Passed Final Review, Pending Board Approval

PSD disclosed:

25 Mar 2019

Translated version of this PSD: Serbian

Project Description

A senior loan of up to €50 million to Banca Intesa Belgrade ("BIB") for mortgage lending.

Project Objectives

The proceeds of the loan will be used by BIB to provide long-term financing for residential mortgage lending in Serbia.

Transition Impact

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 mortgage lending has further room for growth subject to availability of sufficiently long-term funding.

Client Information

BANCA INTESA AD BEOGRAD

BIB is the largest bank in Serbia with the leading position in corporate and retail banking. BIB has been one of the most profitable bank in Serbia for many years, thanks to well-diversified and efficient operations. It is owned by Intesa Sanpaolo SPA.

EBRD Finance Summary

EUR 50,000,000.00

Total Project Cost

EUR 50,000,000.00

Environmental and Social Summary

Categorised FI (2014 ESP). BIB is satisfactorily implementing the EBRD's E&S requirements and will be required to continue to comply with PRs 2, 4 & 9 and further comply with the EBRD's E&S Procedures for Mortgage Lending. BIB will be required to complete and submit the Sustainability Index report to the Bank on an annual basis.

Technical Cooperation

None.

Company Contact Information

Snezana Topalovic
snezana.topalovic@bancaintesa.rs
+381 11 201 1400
381 11 201 1260
www.bancaintesa.rs
Milentija Popovica 7b 11070 Novi Beograd

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