Deltacredit Bank Mortgage Loan

Location:

Russia

Project number:

42258

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

28 Jun 2011

Status:

Complete

PSD disclosed:

18 May 2011

Translated version of this PSD: Russian

Project Description

The EBRD is considering a senior loan of up to USD 150 million to DeltaCredit Bank, Russian Federation (“the Loan”). The Loan will be utilised by DeltaCredit Bank for making new residential mortgages to retail clients in the Russian market.

Transition Impact

The operation will:

1) Support the recovery of the mortgage market of the Russian Federation in the post-crisis environment

2) Promote mortgage lending resulting in higher volumes and deeper penetration via new clients/regions to make housing affordable for the Russian middle class, and

3) Promote competition and best practice in mortgage lending.

The Client

DeltaCredit Bank is the 3rd largest mortgage provider in the Russian Federation. The bank is part of SocGen Group.

EBRD Finance

A senior bi-lateral multicurrency loan of up to USD 150 million, available for disbursement in USD and Roubles.

Project Cost

USD 150 million.

Environmental Impact

DeltaCredit Bank, Russia will be required to comply with the EBRD's Performance Requirements 2 and 9. In particular, DeltaCredit Bank will need to implement environmental and social procedures for mortgage lending. DeltaCredit 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

Public Relations: Barinov Ivan
Tel: +7-495-960-31-61, ext.2171

Investor Relations: Cherepneva Maria
Tel: +7-495-960-31-61, ext.2217

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

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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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