Erste Bank Hungary Equity Investment

Location:

Hungary

Project number:

47110

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

04 May 2016

Status:

Disbursing

PSD disclosed:

01 Apr 2016

Translated version of this PSD: Hungarian

Project Description

EBRD is considering an equity investment in Erste Bank Hungary alongside the State of Hungary.

Erste Group Bank will remain the controlling shareholder.

Project Objectives

The Project will contribute to strengthening of the capitalisation of the bank and its strategy of increased engagement in supporting the real economy in Hungary.

Transition Impact

Transition impact stems from the following:

  • Demonstration of successful restructuring
  • Market expansion

Client Information

Erste Bank Hungary (EBH), part of Erste Group, is the sixth largest bank Hungary and the second largest retail lender, operating via the third largest branch network in the country (128 branches). While predominantly a retail bank, EBH operates a universal banking model and offers a complete range of banking and other financial services to its customers, such as savings accounts, asset management, consumer credit and mortgage lending, project finance, foreign trade financing, corporate finance, capital market and money market services, FX trading, leasing and factoring. EBH is 100% owned by Erste Group Bank AG.

Environmental and Social Summary

Categorised FI. EBH is required to comply with EBRD's Performance Requirements 2, 4 and 9 and submit annual reports to the EBRD on environmental and social matters and on the implementation of the Performance Requirements.

Technical Cooperation

None.
 

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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