BISE SUBORDINATED CONVERTIBLE LOAN

Location:

Poland

Project number:

27681

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

25 Nov 2003

Status:

Completed

PSD disclosed:

26 Sep 2003

Project Description

The proposed project will:
  1. support BISE's strategy in offering lending and other banking services to some specific sectors of the Polish economy, namely small municipalities and SMEs;
  2. improve BISE capitalisation and enable it to carry out its modernisation programme; and
  3. support the completion of the integration of two small regional banks acquired by BISE during the last years.

Transition Impact

The transition impact of the project lies in the strengthening of a small Polish bank focused on some market niches underserviced by larger banks. BISE is also strong in a specific region of Poland where the bank has a relevant market share as lenders to SMEs and small municipalities.

The Client

Bank Inicjatyw Spoleczno-Ekonomicznych S.A. (BISE) is a medium-sized Polish bank, based in Warsaw, with a unique specialisation in servicing small municipalities, SMEs, energy sector and sugar industry clients as well as companies with French shareholders and NGOs. The principal shareholders in BISE are: Agencja Rozwoju Przemyslu, presently with 37.0% of the voting rights and Crédit CooperatifCoopératif France, presently with 26.8% of the voting rights.

EBRD Finance

Subordinated, convertible loan in the amount of Polish Zloty 40 million.

Project Cost

Polish Zloty 40 million.

Environmental Impact

BISE is required to adopt and implement EBRD's "Environmental Procedures for Intermediated Lending through Local Banks" across the full range of its operations. This includes from the point of signing that BISE adheres to the Bank's Environmental Exclusion and Referral List. Clients of BISE should comply with national requirements and EU laws and regulations that are in force in Poland for environment, health and safety. On an annual basis BISE will provide the Bank with an annual environmental report on environment, health and safety issues associated with its operations and portfolio.

Technical Cooperation

None.

Company Contact

Bank Inicjatyw Spoleczno - Ekonomicznych S.A.
Dubois Str. 5A, 00-184 Warsaw, Poland
Phone no: (+48 22) 860 1100; Fax (+48 22) 860 1103
Website: www.bise.pl 
Contact: Wlodzimierz Grudzinski, President of the Management Board
 

Business opportunities

For business opportunities or procurement, contact the client company.

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Text of the PIP

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