Nova Kreditna Banka Maribor

Location:

Slovenia

Project number:

47216

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

11 Feb 2015

Status:

Disbursing

PSD disclosed:

01 Jul 2015

Translated version of this PSD: Slovenian

Project Description

EBRD is acquiring 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. Upon the completion of the transaction, 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.

Transition Impact

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.

The Client

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

Equity investment of up to €70 million

Project Cost

N/A

Environmental and social categorisation, impact, and mitigation

Categorised FI (2014 Policy).  Given that the proposed investment involves an equity stake, the client will be required to adhere to the Bank’s 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

None

Company Contact

Sabina Dziurman, dziurmans@ebrd.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

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.