Bank Pekao S.A.

Location:

Poland

Project number:

50535

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

03 Oct 2018

Status:

Signed

PSD disclosed:

06 Mar 2019

Translated version of this PSD: Polish

Project Description

Investment in Polish zloty-denominted subordinated bonds for an amount of PLN 138,500,000 (EUR 32.7 million) as part of a total aggregate issuance of PLN 750 millon (EUR 174 million) by Bank Polska Kasa Opieki S.A. ("Bank Pekao S.A." or the "Issuer"), a public company incorporated in Poland and the country's third largest commercial bank.

Project Objectives

Bank Pekao has committed to allocate the equivalent of 150 per cent of the proceeds from EBRD investments in the bonds to finance energy efficiency improvements of commercial energy efficiency projects achieving energy savings 20% above the national standard as well as certified commercial and residential projects which meet the GET eligiblity criteria in compliance with internationally accepted certification schemes.

Transition Impact

The project will support the Bank's Green Economy Transition ("GET") approach in Poland via Bank Pekao allocating funds towards projects meeting GET eligibilty criteria.

The project will also strengthen the capital adequacy of a systemic bank in Poland and contribute to the development of the country's capital market.

Client Information

BANK POLSKA KASA OPIEKI SA (BANK PEKAO)

Bank Pekao is the third largest commercial bank in Poland by total assets with a market share of 10 per cent as of 3Q18. Bank Pekao was incorporated in 1929 and had been listed on the Warsaw Stock Exchange (WSE) since 1998 in the WIG20 index. The market capitalisation amounted to almost EUR 6.8 billion as of 7 February 2019. Bank Pekao is rated BBB+ (stable) by Fitch, BBB+ (stable) by S&P and A2 (stable) by Moody's.

EBRD Finance Summary

PLN 500,000,000.00

Total Project Cost

PLN 2,500,000,000.00

Environmental and Social Summary

Categorised FI (ESP 2014). Bank Pekao will be required to comply with the EBRD's Performance Requiremets 2, 4 and 9, and submit Annual Environmental and Social Reports to the EBRD.

Technical Cooperation

None.

Company Contact Information

Tomasz Cichopek
tomasz.cichopek@pekao.com.pl
+48225246282
www.pekao.com.pl
Bank Pekao S.A. ul. Zwirki i Wigury 31 02-091 Warszawa, Poland

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.

Share this page: