Equity Investment of approximately €10.1 million (SKK 437 million) for a 20 per cent share of Pol’nobanka.
The current transaction follows a capital increase for Pol’nobanka in February 2001, which was mainly subscribed by UCI. The objective is to re-capitalise and to support the bank's growth in the retail and corporate market under the guidance of UCI, its new strategic shareholder. The proceeds will be used for: (i) strengthening the capital base and increasing the capital adequacy ratio; (ii) opening, relocating or restructuring existing and new branches to allow the bank to improve its service; and (iii) launching new services and products, especially in the retail sector.
The investment follows the Bank’s strategy of supporting the consolidation of the Slovak banking sector, especially those medium-sized Slovak banks that lend extensively to small and medium-sized enterprises.
Pol’nobanka is a full-service, universal commercial bank with headquarters in Bratislava and with a focus on commercial banking and expertise in the agricultural sector. The bank has over 1,000 employees and a large nationwide branch network comprising 47 outlets.
Equity investment of SKK 437 million (€10.1 million). The EBRD is about to acquire shares from UCI in order to bring its current shareholding to 20 per cent of Pol’nobanka's share capital. The Bank is currently a 3.8 per cent shareholder.
SKK 437 million (€10.1 million)
Pol’nobanka will carry out its operations in accordance with EBRD's Environmental Procedures for Local Banks. In implementing these procedures, Pol’nobanka will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.
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