Bank Kedr SME Credit Line

Location:

Russia

Project number:

37904

Business sector:

Depository Credit (banks)

Notice type:

Private

Environmental category:

FI

Target board date:

24 Jul 2007

Status:

Completed

PSD disclosed:

22 Jun 2007

Project Description

The proposed project envisages extension of term financing to Bank Kedr, one of the leading private banks in Siberia, to support the bank’s expanding SME lending programme in Siberia and other regions via its extensive regional network of more than 40 outlets and branches.

Transition Impact

The project will promote financial intermediation in Russia by enhancing the ability of a private bank to compete on the basis of its strong local brand, quality of service and speed of decision-making in its market niche.

The EBRD funds will reach SME sub-borrowers that are currently inadequately served due to the lack of funding opportunities. The longer term loan will improve the maturity profile of Bank Kedr’s funding base and allow the bank to serve the long term financing needs of SMEs in a sustainable way.

The Client

Bank Kedr is a regional Russian bank with headquarters in Krasnoyarsk. Bank Kedr is a leading regional private commercial bank with a network of over 40 branches and offices covering the entire territory of the Krasnoyarsk region.

EBRD Finance

Term Loan of RUB 400 million (EUR 11.5 million).

Project Cost

RUB 400 million (EUR 11.5 million).

Environmental Impact

Bank Kedr will be required to adopt the EBRD’s Environmental Procedures for Intermediated Financing through Local Banks and to apply these procedures to the whole range of its commercial lending operations. This includes adherence to the FI Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety and labour legislation, appointment of a member of senior management with overall responsibility for the implementation of environmental procedures, and submission of annual environmental reports to EBRD.

Technical Cooperation

None.

Company Contact

Mr. Vitaly Shmakov, Deputy Chairman of the Management Board
Bank Kedr
Krasnoyarsk 660021, 33 Vokzalnaya str.

Tel. +7 3912 65 09 37

e-mail: Shmakov@kedr.kts.ru

 

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