Nova Kreditna Banka Maribor

Location:

Slovenia

Project number:

47216

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

11 Feb 2015

Status:

Disbursing

PSD disclosed:

01 Jul 2015

Project Description

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.

Project Objectives

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

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.

Client Information

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

EUR 70,000,000.00

Equity investment of up to €70 million

Total Project Cost

EUR 450,000,000.00

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

None

Company Contact Information

Kristina Zagar
zagark@ebrd.com

Implementation summary

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

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

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).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.

 

Share this page: