Platinum Bank

Location:

Ukraine

Project number:

37852

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Target board date:

24 Jul 2007

Status:

Completed

PSD disclosed:

22 Jun 2007

Project Description

EBRD proposes to lend USD 20 million to International Mortgage Bank, Ukraine (“IMB Ukraine” or the “Company”) a specialised financial institution operating in consumer finance and mortgage lending in Ukraine.

The project aims to support the expansion of a pure-player specialised mortgage and consumer finance institution in Ukraine. The Loan will provide the Company with a stable, longer term funding source to grow its business on a sustainable basis.

Transition Impact

  • The proposed transaction will enhance competition and innovation in the nascent consumer finance market in Ukraine.

  • The proposed project will promote financial sector intermediation in an industry characterized by a low level of development and with very high growth potential.

  • The Project is expected to support through policy dialogue changes in the legal framework for the consumer finance industry, such as the establishment of a country-wide credit bureau, as well as at a later stage support the development of capital markets through potential securitisation.

The Client

International Mortgage Bank is a specialised financial institution incorporated in Ukraine and operating a nationwide mortgage and consumer finance platform.

EBRD Finance

Term Loan of USD 20 million (EUR 15 million).

Project Cost

USD 20 million (EUR 15 million).

Environmental Impact

IMB Ukraine will be required to adopt and implement the EBRD's Environmental Procedures for Financial Institutions which includes adherence to EBRD’s Environmental Exclusion and Referral Lists, compliance with the applicable national environmental, health and safety and labour requirements, and regular submit an Environmental Report to EBRD.

Technical Cooperation

None.

Company Contact

Todd Esposito, Chief Financial Officer
IMB Group
c/o International Mortgage Bank
13 Pimonenka Street
Building 4a, 2nd floor
04050 Kiev
Ukraine

Tel: +38 044 492 9092
Fax: +38 044 492 9099

 

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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