Translated version of this PSD: Serbian
Long-term local currency senior unsecured loan to UniCredit Bank Serbia JSC ("UCB") for on-lending to small and medium enterprises (SMEs) in Serbia.
The project will contribute to the expansion of lending to private businesses through working capital lines and investment loans to SMEs, including enterprises operating in economically less developed regions of the country. Furthermore, the transaction supports UCB's growth strategy and diversification of its funding sources. Loan will promote dinarization and help decrease FX mismatch in balance sheets of SME's which generate revenues in local currency.
The project improves availability of medium-term funding for SMEs, which are the main source of employment in the private sector and a major contributor to the economy. As one of the largest bank's in Serbia with strong expertise in corporate lending, UCB is well-positioned to provide much-needed financing to smaller businesses and to contribute to the development of SMEs in the country.
The focus will also be on lending in the regions outside the capital, attracting new SME clients and maintaining adequate portfolio quality. The project also supports further dinarization of the Serbian economy by providing long term sources of funding in local currency.
UNICREDIT BANK SERBIA JSC
With total assets of EUR 3.7 billion as at end-2018, UCB is one of the leading and largest universal banks in Serbia with strong foothold in corporate and consumer lending. It is one of the most profitable banks in Serbia with outstanding operating efficiency and strong branch network. UCB is 100% owned by UniCredit Spa, Italy.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised FI (2014 ESP). UCB is an existing client of the Bank and is satisfactorily implementing the Bank's E&S requirements. UCB will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 and continue submitting the EBRD FI Sustainability Index to the Bank on an annual basis. UCB will need to comply with the EBRD's Environmental and Social Risk Management Procedures for Corporate Loans, SME and Micro Loans.
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