Center-Invest Bank Capital Increase II

Location:

Russia

Project number:

37347

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

19 Sep 2006

Status:

Disbursing

PSD disclosed:

04 Aug 2006

Project Description

The proposed project envisages EBRD’s subscription to newly issued ordinary shares of Center Invest Bank. The project is aimed at strengthening the bank’s capital to support the organic growth of the bank’s business.

Transition Impact

The project will provide Center Invest Bank with capital and financial resources needed for implementation of the bank’s medium-term strategy with a particular focus on regional expansion and lending to private sector SMEs and retail clients. In supporting Center Invest Bank EBRD promotes real sector lending, development of regional banks, improved corporate governance, and competition in the banking sector.

The Client

Center Invest Bank is a leading regional universal commercial bank based in Rostov-on-Don catering to small and medium-sized businesses and individuals through a wide branch network in the South of Russia.

EBRD Finance

USD16.1 million

Project Cost

USD 50 million

Environmental Impact

Center Invest Bank is well familiar with the environmental requirements of EBRD through existing operations and will continue to comply with those. The bank is required to apply EBRD’s Environmental Procedures for Local Banks to its entire lending portfolio and to submit annual environmental reports to the Bank.

Technical Cooperation

Center Invest Bank is working with ING Bank as consultants within the framework of Russian Regional Bank Credit Strengthening and Institutional Building Program funded through EU IPF Program.

Company Contact

Mr. Grigory Chorayan, Member of the Management Board

Bank Center-Invest
62, prospect Sokolova,
Rostov-on-Don, Russia, 344010;

Tel. + 7 8632 675 833
Fax +7 8632 640 640

 

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

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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