Slovak Republic

Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

22 Oct 1996



PSD disclosed:

25 Sep 1996

Project Description

The EBRD is considering a further equity investment in Pol'nobanka by participating in the recently approved capital increase. SPB has experienced considerable growth over the past years. In order for SPB to maintain its market share and to continue to offer additional banking services to its customers, it is necessary to strengthen its capital as its current capital level does not allow for increases in risk-weighted assets. Proceeds of the capital increase will be used by SPB to improve its asset/liability structure, to cover the completion of the IT investment and branch network, to strengthen the capital base in order to leverage additional lending to private enterprises and to maintain good capital adequacy.

Transition Impact

The capital increase will assist the development of a private sector financial institution which is expected to continue to play a leadership role in innovative financing and quality services to the private sector, and to small and medium-sized enterprises in particular.

The Client

Pol'nobanka (SPB) was established in June 1996 as a joint-stock company. Initially it was set up as an agricultural bank to assist this sector with future developments in the Slovak Republic. Operations started at the beginning of 1991 when it received a full bank licence. While it continues to be a leading specialist bank in the agricultural sector, it has evolved into a full-service commercial bank operating across a broad range of industries. It is today the fourth-largest bank in the Slovak Republic, based on total assets and outstanding loans.

EBRD Finance

Since 1993 the EBRD has been one of the major shareholders, owning 20 per cent of Pol'nobanka's share capital. It is now considering a further equity investment through participation in the capital increase approved at SPB's Annual General Meeting on 25 June 1996.

Project Cost

The approved capital increase amount is SSK 600.6 million (ECU 15.6 million equivalent).

Environmental Impact

C/0: The project does not require an environmental analysis or an environmental audit. SPB is already implementing environmental appraisal procedures in line with EBRD guidelines. This provides for a requirement that investees comply with national/local health, safety and environmental regulations and standards. SPB will submit annual environmental reports to the EBRD.

Technical Cooperation



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

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 how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requestors’ identities may be kept confidential, upon request.

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