Credit Europe Bank Senior Loan

Location:

Russia

Project number:

41152

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

20 Jul 2010

Status:

Complete

PSD disclosed:

18 Jun 2010

Translated version of this PSD: Russian
 

Project Description

Senior 5-year local currency loan for on-lending to Russian SMEs. The proposed project will enable CEB to provide long-term local currency financing to SMEs in the regions of Russia, diversify its loan portfolio and enhance its competitive position.

Transition Impact

The transition impact of the project is expected to be achieved in the following main areas:

  • Demonstration and support of successful shift in the bank’s loan portfolio towards RUB-denominated financing and support of a well-managed bank in weathering the crisis.
     
  • Market expansion - supporting SMEs in the regions. CEB aims to diversify its loan portfolio by targeting SMEs and mid-sized corporate clients, mainly in Russian regions; given the bank’s large network, the project will assist CEB in achieving these objectives, as well as will contribute to the increase in financial intermediation in the country.

The Client

Part of the Turkish major conglomerate Fiba Group, CEB is a medium-sized Russian universal commercial bank, with a focus on lending in the retail, mid-sized corporate and SME segments. As of end-2009, Credit Europe Bank was ranked 46th in terms of total assets in Russia and had over 1,000 corporate banking customers, 10,000 SME customers and over 2.2 million private retail customers.

EBRD Finance

EBRD is considering the providing CEB with a Senior loan of up to RUB 2.9 billion.

Project Cost

Up to RUB 2.9 billion.

Environmental Impact

Categorised FI (2008). CEB will be required to comply with the EBRD’s Performance Requirements for FIs (specifically, PR2 and 9). The bank will be required to adhere to the EBRD's Environmental and Social Exclusion and Referral Lists and submit annual environmental and social reports to the EBRD.

Technical Cooperation

None.

Company Contact

Yigit Feke, Vice President, Head of Financial Institutions Department

Tel: +7 495 725 26 62
E-mail: Yigit.Feke@crediteurope.ru

 

Business opportunities

For business opportunities or procurement, contact the client company.

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