The project envisages that the EBRD will acquire a shareholding stake in Orgresbank of up to 15% through the acquisition of the newly issued shares of Orgresbank in the third quarter of 2006. The EBRD’s equity investment will help Orgresbank to implement its development strategy which includes regional expansion and the development of small and medium enterprise lending.
The proposed transaction will provide equity capital to Orgresbank for the expansion of its regional network and development of small- and medium-enterprise lending. The transaction will therefore promote the availability of financial services to small- and medium-enterprises in Moscow and in the regions where Orgresbank operates and will operate in the near future. The EBRD will also seek to support Orgresbank in strengthening its institutional capacity and enhancing its corporate governance.
Orgresbank is a Moscow-based Russian bank with headquarters and several branches in Moscow and branches in Penza, St. Petersburg, Samara and Saratov.
Equity investment. The EBRD will subscribe to Orgresbank’s newly issued shares.
Up to USD 30 million.
Orgresbank will be required to apply EBRD’s Environmental Procedures for Local Banks to all commercial lending activities including sub-loans financed through the SME Credit Line, and to submit annual environmental reports to the Bank.
Mr. Vadim Serebrennikov
Vice-President, Head of Foreign Financial Institutions & International Capital Markets
Moscow, 125040, 3 Ulitsa Yamskogo Polya 19
Tel. +7 495 777 34 77
Fax +7 495 777 34 77 (ext 3303)
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