Equity investment in Eksimbanka. Eksimbanka is a bank that was incorporated in 1991 in FR Yugoslavia. The main purpose of the investment is to re-capitalise and restructure the bank.
Support institutional strengthening,
Promote expansion of healthy loan book with increasing maturities, and
Development and delivery of new banking products.
Promoting the growth of a creditworthy local existing bank would increase depositors' and other investors' confidence in the banking sector and would help to develop healthy competition in the sector.
Eksimbanka is a well-positioned medium to small-sized bank that provides banking services to SMEs as its main customers. The bank was established on December 25, 1991 as a subsidiary of Investbanka a.d. Beograd. At that time the bank mostly serviced large state and socially owned companies – the clients of Investbanka. In 1995 Eksimbanka started independent operations and after lifting of the sanctions in 1996, it started regular banking services for corporate customers. The principal business orientation was changed to servicing private SMEs. The shareholder structure of the bank was reformed in 1998, when SMEs became the dominating shareholder group of the bank, owning 60 per cent of the share capital.
Restructure/recapitalisation of Eksimbanka, involving the purchase of new issued shares. A tailored twinning/institutional building programme will also be implemented.
€1.5 million - €2.2 million.
Eksimbanka will carry out its operations in accordance with EBRD’s Environmental Procedures for Local Banks. In implementing these procedures, Eksimbanka will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.
Total funding requirement is in the order of €1.8 million.
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