Credit Bank of Moscow SME Credit Line

Location:

Russia

Project number:

38347

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

17 Jun 2008

Status:

Completed

PSD disclosed:

23 Apr 2008

Project Description

The proposed USD 10 million tranched senior credit line aims to support the efforts of the bank to develop SME lending further, with a particular focus on small entities. CBM is currently restructuring its SME lending department in order to boost this type of activities.

Transition Impact

This project will facilitate the development of CBM into regions with low banking penetration and support the development of SMEs, a segment which has more diificulties accessing long-term credit.t. The proposed project will also assist CBM to: a) diversify its funding base and lengthen its maturity; and b) support CBM in its efforts to diversify business profile in small business lending and reduce customer concentrations.

The Client

CBM is a dynamically developing mid-sized private bank with increasing SME and retail focus and a growing network in Central Federal District of Russia. It is headquartered in Moscow and has 52 outlets in Moscow region and 4 outlets in other regions of Central Federal District. By end-2009 the bank will open offices in all regions within Central Federal District. CBM ranked 60th by total assets and 56th by outlet network among Russian banks at end-2007.

EBRD Finance

EBRD will provide CBM with a USD 10 million SME Credit Line.

Project Cost

USD 10 million.

Environmental Impact

CBM follows EBRD’s Environmental Procedures for Intermediated Finance through Local Banks in its lending activities as well as environmental standards required by its other IFI partners. CBM is also in full compliance with applicable national environmental, health and safety and labour requirements and adheres to the Environmental Exclusion and Referral List. CBM will submit Annual Environmental Reports to the Bank.

Technical Cooperation

None.

Company Contact

Mr. Igor Kondratyev
Head, Financial Institutions

Tel. +7(495) 785-54-09
Fax +7(495) 795-02-74

Email: kondratyev@mkb.ru

 

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