EBRD has acquired a 20% stake in Nova Kreditna Banka Maribor Group ('NKBM') alongside certain private equity investment funds affiliated with Apollo Global Management LLC ('Apollo') from the Slovenian Government, acting through its representative, Slovenian Sovereign Holding. The EBRD and the Apollo funds will own shares in a Luxembourg investment vehicle that will in turn own, indirectly, 100% of the share capital of NKBM.
EBRD's investment will support the successful privatisation and turnaround of the 2nd largest banking franchise in Slovenia and further strengthen its core banking operations in the Slovenian market.
ETI score: 82
The project's transition impact will be derived from demonstration of successful restructuring of a leading banking franchise in Slovenia, setting standards for corporate governance and enhancing risk management under private ownership.
BISER TOPCO SARL
Nova Kreditna Banka Maribor ('NKBM') is currently the 2nd largest bank in Slovenia with total assets of €4.3 billion and equity of €636 million at Q1 2015. NKBM was earmarked for privatisation by the Slovenian government in 2013.
Apollo is a leading global alternative investment manager with assets under management of approximately USD 163 billion as of 31 March 2015, across private equity, credit and real estate funds.
EBRD Finance Summary
Equity investment of up to €70 million
Total Project Cost
Environmental and Social Summary
Categorised FI (2014 Policy). Given that the proposed investment involves an equity stake, the client will be required to adhere to the Bankis PR9, PR2 and the relevant sections of PR4 within the 2014 Environmental and Social Policy; as well as the relevant EBRD E&S Procedures for lending/transactions across the entire portfolio. EBRD and Apollo have on a common approach to developing EHSS policy and procedures at NKBM.
Technical Cooperation and Grant Financing
Company Contact Information
Nova Kreditna Banka Maribor Group ("NKBM") is the second largest bank in Slovenia with total assets at €5.1 billion as of end-2019.
The bank was nationalised in 2013 by Slovenian Government, acting through its representative, Slovenian Sovereign Holding and acquired by Apollo Global Management LLC ("Apollo") and EBRD in 2015. As part of the bank's successful restructuring and the reorientation of its business, NKBM expanded its activities through a series of acquisitions, notably Raiffeisen Slovenia and KBS banka in 2016, Summit Leasing Slovenia in 2017 and Abanka in 2020, to consolidate its position as a strategic market player in the country.
The Project contributed to (i) demonstration of successful restructuring of a leading banking franchise in Slovenia (ii) setting standards for corporate governance and enhancing risk management under private ownership.
PSD last updated
11 Dec 2020
Further information regarding the EBRD’s approach to measuring transition impact is available here.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
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