Komercijalna Banka SME II



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

18 Sep 2012



PSD disclosed:

14 Aug 2012

Translated version of this PSD: Serbian

Project Description

The EBRD is considering extending a EUR 30 million loan to Komercijalna Banka for on-lending to small and medium enterprises, thus fostering the development of a healthy SME sector in the country. The loan will be used by KB to provide short, medium and long-term financing through working capital lines and investment loans to private SMEs. The project will help to diversify KB’s funding base, enable continued liquidity in the SME loan market and promote private sector investment and economic recovery.

Transition Impact

The Project will increase the SME sector’s access to finance by providing medium/long-term funding to a key player with a strong presence in the market, thus providing a good platform for the channelling of funds to the real economy. SME financing has been especially affected by the global financial crisis as well as the difficult macroeconomic conditions in Serbia. The Project will ensure sustained access to longer tenor funding by SMEs appropriate to support investment and contribute to renewed economic growth. The Project will also promote regional private sector development through increased lending to local SMEs, particularly in the region outside of the capital.

The Client

Komercijalna Banka is the second largest bank in Serbia with 10.7% market share by total assets focusing on both corporate and retail operations. KB is seen as the leading national bank in the market because of its long history and significant state shareholding.

EBRD Finance

Up to EUR 30 million, 5-year, senior loan.

Project Cost

Up to EUR 30 million.

Environmental Impact

Categorised FI. As an existing client, Komercijalna Banka is familiar with the environmental and social requirements of the Bank. Performance to date in the context of those existing operations has been satisfactory. KB will be required to continue compliance with PRs 2 and 9 and continue to provide annual environmental and social reports to the Bank.

Implementation Summary

The Project helped Komercijalna Banka (“KB”) to provide medium-term funding to Serbian SMEs, in particular in the underserved regions. The Project helped KB to diversify funding base, enabling continued liquidity in the SME loan market. Moreover, the Loan supported the business strategy of KB, which includes further penetration in the SME market.

Technical Cooperation

Komercijalna Banka has benefited from Technical Cooperation in the implementation of the Institution Building Plan. The original programme was started in September 2006, extended in Jan 2009, and completed in 2010. The budget for both the original programme and the extension amounted to EUR 2.3 million. The source of financing was the Canada-EBRD TC Fund for the South-East Europe Action Plan (EUR 1.7 million), the EBRD Western Balkans Fund (EUR 0.3 million) and the EBRD Shareholders’ Special Fund (EUR 0.3 million).

No new Technical Cooperation is envisaged for this Project

Company Contact

Ms. Radmila Gaćeša
Assistant Director, Financial Institutions Division
Komercijalna Banka
Address: Makedonska 29, 11000 Belgrade, Serbia

Phone: (+381 11) 333 9003
Fax: (+381 11) 333 9160

E-mail: radmila.gacesa@kombank.com
Website: www.kombank.com


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

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