Nordea Bank Polska S.A. (credit line)

Location:

Poland

Project number:

6287

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

02 Nov 1999

Status:

Complete

PSD disclosed:

20 Dec 1999

Project Description

Provision of term funding to a key niche bank for on-lending to Polish private enterprises. The project aims to provide much-needed term funding for the clients of LG Petro Bank, which are mostly Polish middle-market enterprises.

Transition Impact

The project will provide support for a key niche bank in Poland that has as its clients many small and medium-sized enterprises (SMEs) and middle-market clients.

The Client

Established in 1990, LG Petro Bank ranks as the 19th largest bank in Poland by assets. Its headquarters are in Lodz. LG Petro Bank provides a full range of banking services through eight branches throughout Poland, and the bank is expanding its network to cover all principal Polish cities.

EBRD Finance

Credit line of US$ 20 million, to be drawn in US$, EUR or PLN.

Project Cost

n/a

Environmental Impact

LG Petro Bank will follow the EBRD's Environmental Procedures for Intermediated Lending through Local Banks in relation to all sub-loans financed through the credit line. In implementing these procedures, the bank will assess potential environmental issues associated with sub-projects, which are required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements.

Technical Cooperation

None.

 

Business opportunities

For business opportunities or procurement, contact the client company.

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Email: procurement@ebrd.com

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Text of the PIP

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