Translated version of this PSD: Polish
Project Description
The EBRD is considering a PLN 10.7 million follow-on equity investment in Meritum Bank ICB S.A. The investment will be in addition to the original investment, made in the first half of 2011, and will aim to support Meritum Bank’s gradual transformation from a fast-growing market entrant into an established market player in consumer finance and MSE market segments.
Transition Impact
The project is in line with EBRD economic transition objective to strengthen Polish financial system. The project will also aim to improve penetration of banking services in the segment of micro and small enterprises, which has been insufficiently catered-for by traditional banking services.
The Client
Meritum is a small private bank in Poland, focused on consumer finance and MSME lending. The Company is headquartered is the city of Gdansk and operates through a national network of over 120 branches.
EBRD Finance
PLN 10.7 million equity investment into newly issued shares of Meritum Bank. The new shares will be issued in connection with a PLN 43.8 million capital increase programme, with pro-rata participation by the other major shareholders of Meritum Bank.
Project Cost
PLN 10.7 million.
Environmental Impact
Categorised FI: Meritum Bank, an existing client of EBRD, will need to maintain its existing environmental and social procedures and management systems in line with PRs 2 and 9, and continue applying these across its lending portfolio. Monitoring will consist of a review of Annual Environmental Reports prepared by Meritum Bank and submitted to the EBRD for approval.
Technical Cooperation
None.
Company Contact
TBA
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
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
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 (pcm@ebrd.com) 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.
