FIF - UniCredit Bank Serbia - SME loan

Location:

Serbia

Project number:

50636

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

25 Apr 2019

Status:

Passed Final Review, Pending Board Approval

PSD disclosed:

25 Mar 2019

Project Description

Long-term senior unsecured loan to UniCredit Bank Serbia JSC ("UCB") for on-lending to small and medium enterprises (SMEs) in Serbia.

Project Objectives

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.

Transition Impact

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.

Client Information

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

EUR 65,000,000.00

Total Project Cost

EUR 65,000,000.00

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.

Technical Cooperation

None.

Company Contact Information

Milan Davidovic
milan.davidovic@unicreditgroup.rs
+381113777853
www.unicreditbank.rs
Jurija Gagarina 12, Belgrade, Serbia

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