Renaissance Capital Bank Rouble Loan

Location:

Russia

Project number:

36115

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Approval date:

26 Jul 2005

Status:

Complete

PSD disclosed:

21 Jun 2005

Project Description

The proposed project is a senior loan of RUB 830 million to Bank Renaissance Capital, a Moscow-based consumer finance bank of the Renaissance Capital Group. The proceeds of the loan will go towards financing the portfolio of consumer loans in the Russian Federation.

Transition Impact

The proposed Russian Rouble loan will further advance availability of local currency funding for Russian citizens. Lack of funding, especially of local currency funding, is a major impediment to growth in the Russian consumer finance sector.

The project will increase the competition in the consumer finance market in Russia by supporting the entry of the new strong participant. This helps to expand the market both through lowering over time the interest rates and increased range of local currency credit products.

The project will also demonstrate that well-managed private banks can compete successfully based on a strong and innovative business model. Renaissance Capital has demonstrated its commitment to transparency and best practice in the investment banking sector and will implement its experience also in the consumer credit sector.

 

The Client

Bank Renaissance Capital is the consumer finance bank of the Renaissance Capital Group, headquartered in Moscow and operating in more than 20 regions in Russia. Renaissance Capital Group is one of the leading independent investment banks in Russia.

EBRD Finance

RUB 830 million (USD 30 million) senior term loan for financing the development of consumer finance portfolio.

Project Cost

USD 30 million.

Environmental Impact

There are no environmental risks associated with the consumer financing, therefore there will be no environmental requirements associated with this operation.

Technical Cooperation

None.

Company Contact

Alexey Levchenko, Chairman of the Management Board

Tel: +7 095 783 4600
Fax: +7 095 783 4601

E-mail: Alevchenko@rccf.ru

 

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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