ERSTE & STEIERMAERKISCHE BANK D.D., RIJEKA

Location:

Croatia

Project number:

27066

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

11 Jun 2002

Status:

Completed

PSD disclosed:

10 May 2002

Project Description

A proposed € 20 million senior loan that would allow Erste and Steiermärkische Bank d.d. (ESB) to expand its lending operations and to provide medium to long-term funding to small and medium-sized companies in Croatia. To expand ESB's lending operations in the SME sector and to provide medium to long term funding to small and medium-sized companies in Croatia.

Transition Impact

By supporting ESB and increasing the term funding available to the SME sector, which has a higher growth rate, the EBRD contributes to private sector development in Croatia. This leads to increased competition and entrepreneurship promotion. Transition impact also derives from improving local employee skills by supporting an institution strongly committed to the local market. This should have a long-lasting effect on the Croatian financial sector.

The Client

ESB is the eighth largest bank in Croatia with approximately €667 million in assets. The bank's consolidated market share of total banking assets is around 4 per cent.

EBRD Finance

€20 million senior loan.

Project Cost

€20 million.

Environmental Impact

ESB will follow the EBRD's Environmental Procedures for Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, ESB will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.

Technical Cooperation

None.

Company Contact

 

Business opportunities

For business opportunities or procurement, contact the client company.

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