The EBRD is considering providing a loan of RUB 1.8 billion to ZAO Banca Intesa, a medium-sized bank covering 25 Russian regions, owned and controlled by Intesa Sanpaolo Group (86.7%) and the EBRD (13.3%). The Project is designed to support a bank with broad access to the MSME sector through its regional network.
The transition impact potential of the Project is expected in the following areas:
- The Project will provide resources to MSMEs in the Russian regions through Banca Intesa using its large regional network and historic MSME focus and expertise. The Project will allow Banca Intesa to further expand longer-term financing and develop the services offered to local MSMEs.
- The project will support the bank with long-term funding in local currency and assist its funding diversification objective.
Banca Intesa, a medium-sized universal federal bank headquartered in Moscow, covering 25 regions in Russia. Banca Intesa is owned and controlled by Intesa Sanpaolo Group (ISP, Italy, 86.7 per cent) and the EBRD (13.3 per cent).
Banca Intesa ranks the 52nd in the country by assets (at end-March 2012), with total assets of US$ 2.8 billion and equity of US$ 480 million. The bank has Ba1/stable rating from Moody’s.
A five-year loan of RUB 1.8 billion. The loan will be provided in one tranche.
RUB 1.8 billon.
The project has been categorised FI in accordance with EBRD's 2008 Environmental and Social Policy. Banca Intesa has reported well on environmental matters within the scope of the past operations with the Bank and confirmed compliance with the EBRD's Performance Requirements for FIs (PR2 and PR9). Banca Intesa will be required to continue ensuring compliance with PRs 2 and 9, adhere to the EBRD's E&S Exclusion and Referral Lists, implement relevant E&S Procedures from the e-Manual and continue submitting annual environmental and social reports to the EBRD.
Mrs. Elena Chernyshova, Director of Financial Institutions and Wholesale Funding Department
Telephone: +7 495 411 7947
Fax: +7 495 411 8071
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