Equity Investment in Bank BGZ BNP Paribas

Location:

Poland

Project number:

50008

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

31 Oct 2018

Status:

Signed

PSD disclosed:

06 Nov 2018

Project Description

Equity investment of PLN 430 million (ca. EUR 100 million) corresponding to a ca. 4.5% stake in Bank BGZ BNP Paribas SA ("BGZ BNPP") in Poland (the "Project").

Project Objectives

The Project is conducted in the context of the completion of BGZ BNPP's acquisition of the core assets of Raiffeisen Bank Polska S.A. (the "RBPL Core Business") as announced by BGZ BNPP on 10 April 2018 and also aims to support the plans of BNP Paribas SA ("BNPP"), the controlling shareholder of BGi BNPP, to maintain and gradually increase the free float of BGZ BNPP's shares on the Warsaw Stock Exchange in accordance with BNPP's commitment to the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego).

Transition Impact

The Project will contribute to the Competitive transition quality by allowing BGZ BNPP to improve its efficiency, market position, and overall competitiveness. It will also contribute to the Resilient transition quality by supporting an orderly change of ownership between two strategic investors (Raiffesien Bank International AG and BNPP), thus supporting the overall resilience of the banking sector in Poland.

Client Information

BANK BGZ BNP PARIBAS SA

BGZ BNPP is the 6th largest bank in Poland as at YE2017 with market share of 4.1% in terms of total assets (EUR 112.6 billion, 6.3% market share after the acquisition of the RBPL Core). BGZ BNPP is listed on the WSE. After the deal for the acquisition of RBPL Core, BGZ BNPP is 88.8% owned by BNPP (directly and indirectly).

EBRD Finance Summary

PLN 430,000,000.00

PLN 430 million (ca. EUR 100 million) corresponding to ca. 4.5% shareholding in BGZ BNPP.

Total Project Cost

PLN 3,250,000,000.00

The cost of the acquisition of RBPL Core, announced on 10 April 2018, was PLN 3,250 million.

Environmental and Social Summary

Categorised FI (2014 ESP). BGZ BNPP is satisfactorily implementing the EBRD E&S Requirements under existing exposure. BGZ BNPP will be required to continue to comply with the EBRD's Performance Requirements 2, 4 and 9, implement the EBRD's E&S Risk Management Procedures for Corporate and SME loans. BGZ BNPP will be required to submit annual environmental and social reports to EBRD.

Technical Cooperation

None.

Company Contact Information

Aleksandra Zouner
aleksandra.zouner@bgzbnpparibas.pl
+48 22 56 21 750
https://www.bgzbnpparibas.pl/english-info
Bank BGZ BNP Paribas S.A. ul. Kasprzaka 10/16 01-211 Warsaw Poland

 

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