Primsots bank

Location:

Russia

Project number:

36221

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

15 Nov 2005

Status:

Complete

PSD disclosed:

12 Oct 2005

Project Description

The proposed project envisages:

1. providing a loan of RUB 90 million (USD 3 million equivalent) to Primsotsbank, a private bank operating in the Far East for on-lending to SMEs. The Project is aimed at supporting the bank’s SME lending programme with longer tenors, which will benefit the local SME sector which is currently underserved by local banks.

2. investing in the equity of the bank, as a second stage to be implemented in 2006.

 

Transition Impact

The transition impact potential of the Project arises from

(i) increased financial intermediation in favour of SMEs

(ii) enhanced competition in the local banking sector

(iii) implementation of good governance principles and high business standards in a regional bank operating in the Far East.

The Client

Primsotsbank, a small privately owned regional bank established in 1993 and located in the Far East with a good regional network and a strategic focus on SME lending.

EBRD Finance

A four-year senior loan of RUB 90 million (equivalent of USD 3 million)

An equity investment of up to USD 4 million

 

Project Cost

RUB 90 million (equivalent of USD 3 million) for the loan and USD 4 million for the equity investment.

Environmental Impact

Primsotsbank will be required to comply with EBRD’s Environmental Procedures for SME financing which require adherence to the Bank’s Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety requirements and submission of an Annual Environmental Report to the Bank.

Technical Cooperation

None.

Company Contact

Ms. Olga Ivaschuk, Head of International Banking Department

Email: olga@pskb.com

Telephone: +7 4232 –300299
Fax: +7 4232 – 422076

 

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

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