Renaissance Credit Ukraine

Location:

Ukraine

Project number:

38341

Business sector:

Non-depository Credit (non bank)

Notice type:

Private

Environmental category:

FI

Target board date:

22 Jul 2008

Status:

Completed

PSD disclosed:

08 Aug 2008

Project Description

The proposed project will consist of a senior credit facility of up to USD 25 million to support the growth of the retail lending business of the Bank Renaissance Capital in Ukraine.

Transition Impact

The credit facility will support one of few high quality retail lenders in Ukraine with robust operating standards and transparent lending terms, and thereby contribute to the further development of the Ukrainian retail lending sector.

The Client

Bank Renaissance Capital is a fast-growing Ukrainian commercial bank, specialising in retail banking. Established in 2003, the company started operations in 2006 and currently ranks 51st in the Ukrainian banking sector by total assets (out of 176 licensed banks).

Bank Renaissance Capital belongs to the Renaissance Group, one of the leading independent investment banks in Russia.

EBRD Finance

USD 25 million senior loan.

Project Cost

USD 25 million.

Environmental Impact

The EBRD does not require any specific environmental procedures for the consumer lending as it considers there to be limited associated environmental, health, safety and social risks, if any. Bank Renaissance Capital and its lending activities shall comply with Ukrainian national environmental, health, safety and labour regulations and standards as well as with the Core Labour Conventions of the International Labour Organisation related to child and forced labour and discrimination at work.

Technical Cooperation

A technical assistance project is underway in connection with the loan for the establishment of Ukrainian Consumer Finance Association with a view of improving operating and disclosure standards, increasing consumer awareness and establishment of a centralised credit bureau in Ukraine.

Company Contact

Igor Kozhevin
Chief Financial Officer
Bank Renaissance Capital Ukraine
"Artyom Business Center"
4 Hlubochitska Street
04050 Kiev
Ukraine
Tel +38 044 390 5805
Email: ikozhevin@rccf.ua

 

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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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.