04 Dec 2001
31 Oct 2001
Proposed subordinated loan up to €10 million to Raiffeisen Bank Jugoslavija (RBJ), to increase the bank’s equity base.
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.
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.
Up to €10 million subordinated loan facility.
Up to €10 million.
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.
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