Proposed provision of a PLN denominated subordinated loan to Lukas Bank, supporting the loan growth of the leading Polish consumer finance company, being acquired by Caisse Nationale de Crédit Agricole.
Proceeds will be used to:
increase the supplementary (Tier II) capital of Lukas Bank;
finance the anticipated loan growth; and
improve the range of products and services offered to clients in order to expand the deposit base of the bank.
The EBRD’s objectives are to strengthen the capitalisation of Lukas Bank, and accompany CNCA’s strategic growth in the region.
This operation will increase the competition in the consumer finance segment of the Polish financial market. It will support CNCA’s entry into the region.
Lukas Group is Poland’s leading consumer finance company that distributes consumer loans through Lukas SA and provides retail banking products and services through Lukas Bank.
The French bank Caisse Nationale de Crédit Agricole (CNCA) is in the process of acquiring Lukas Group, and it is expected that the transaction will be finalised in June 2001. CNCA will guarantee the EBRD’s loan.
PLN denominated subordinated debt of PLN 87.5 million (€24.9 million).
PLN 87.5 million (€24.9 million).
Lukas Bank will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, Lukas Bank will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.
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Text of the PIP