RAIFFEISENBANK A.D.

Location:

Serbia

Project number:

21662

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

04 Dec 2001

Status:

Completed

PSD disclosed:

31 Oct 2001

Project Description

Proposed subordinated loan up to €10 million to Raiffeisen Bank Jugoslavija (RBJ), to increase the bank’s equity base.

Transition Impact

The project would increase financial intermediation in an underdeveloped banking sector by supporting the growth of a prominent foreign bank with a large presence and experience in the region.
Promoting the growth of a creditworthy foreign bank would boost the confidence of depositors in the banking sector and of other investors in the country as well as help the development of healthy competition in the sector.

The Client

RBJ is a 100 per cent owned subsidiary of Raiffeisen Zentralbank Osterreich AG. It was granted a banking licence by the National Bank of Yugoslavia in March 2001 and started its business operations on 16 July 2001 with capital of €10 million.

EBRD Finance

Up to €10 million subordinated loan facility.

Project Cost

Up to €10 million.

Environmental Impact

RBJ will carry out its operations in accordance with EBRD's Environmental Procedures for Local Banks. In implementing these procedures, RBJ will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.

Technical Cooperation

None.

Company Contact

 

Business opportunities

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Text of the PIP

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