There are no open procurement opportunities for this project.
Sign up for email alerts
Enter your email address below to receive Project Summary Documents.
International Moscow Bank - Recapitalisation (debt & equity)
|Business sector:||Depository Credit Banks|
|Target Board date:||25 Jan 2000|
|PSD disclosed:||16 Mar 2000|
Recapitalisation financing for International Moscow Bank, Russia's fourth-largest commercial bank recapitalisation financing in the Russian Federation. The EBRD proposes to finance part of the recapitalisation programme initiated by IMB's major Western shareholders, which is necessary because the Russian financial crisis of 1998 effectively eliminated IMB’s equity. The recapitalisation will allow IMB to comply with the Central Bank of Russia and IAS standards.
The project will have a significant "demonstration effect" as it is the first internationally led recapitalisation of a Russian bank since the 1998 financial crisis. The project will also increase genuine commercial competition in the Russian banking sector.
International Moscow Bank (IMB) – a majority Western-owned consortium bank established and operating in Russia, with headquarters in Moscow.
US$ 10 million (EUR 10.4 million) of subordinated debt for inclusion into Tier 2 capital and an investment of US$ 5.3 million (EUR 5.5 million) into ordinary shares of IMB, which will make the EBRD a 10% shareholder. Both the equity and subordinated debt might be later shared with another party.
Participation of the EBRD will be a part of and subject to the total recapitalisation of the bank in the amount of US$ 70 million (EUR 72.5 million). IMB’s consortium shareholders structure will be changed as a result of the recapitalisation, with two reputable foreign banks leading the process as major shareholders.
Total project costs are US$ 15.3 million (EUR 15.9 million).
The project will not have significant environmental impact since the funds to be provided are not for further on-lending.
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (firstname.lastname@example.org) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.