The proposed project will:
support BISE's strategy in offering lending and other banking services to some specific sectors of the Polish economy, namely small municipalities and SMEs;
improve BISE capitalisation and enable it to carry out its modernisation programme; and
support the completion of the integration of two small regional banks acquired by BISE during the last years.
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.
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.
Subordinated, convertible loan in the amount of Polish Zloty 40 million.
Polish Zloty 40 million.
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.
Bank Inicjatyw Spoleczno - Ekonomicznych S.A.
Dubois Str. 5A, 00-184 Warsaw, Poland
Phone no: (+48 22) 860 1100; Fax (+48 22) 860 1103
Contact: Wlodzimierz Grudzinski, President of the Management Board
For business opportunities or procurement, contact the client company.
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Text of the PIP