Center-Invest Bank Capital Increase II

Location:

Russia

Project number:

37347

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board 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.

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