SKB Bank Equity Investment

Location:

Russia

Project number:

37207

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

12 Dec 2006

Status:

Completed

PSD disclosed:

23 Jul 2006

Project Description

The equity investment is aimed to support SKB’s business plan, in particular expansion of its operations with private sector small and medium sized enterprises (SMEs) and retail customers in the Urals and other regions of Russia.

Proposed capital increase planned in 2011 will enable the bank to continue pursuit of its long-term strategy of business expansion in the post-crisis period in its core retail and SME business sectors.

Transition Impact

The project will enhance the ability of a strong leading regional bank to compete, improving financial intermediation in Urals region, by using the branch network of SKB to reach SME and retail customers.

The Client

SKB is one of the leading regional banks in the Urals Federal District, offering a wide range of banking services to medium-size and small companies as well as individuals through a network of 153 outlets in 35 regions across six federal districts of Russia.

EBRD Finance

Subscription to SKB’s newly issued shares and SME Term.

Update: subscription to additional new shares

Project Cost

EUR 36.8 million

Update: up to RUB 250.1 million (EUR 6.1 million)

Environmental Impact

SKB has implemented EBRD’s Environmental and Social (E&S) Policy requirements in its internal procedures and applies these to the whole range of its commercial lending operations. This includes adherence to the EBRD’s E&S Exclusion and Referral List, compliance with the applicable national environmental, health and safety and labour legislation, appointment of a member of senior management with overall responsibility for the implementation of environmental and social procedures, and submission of annual environmental reports to EBRD.

Technical Cooperation

TC has been provided in 2008 within the Regional Institution Building Framework to enhance SKB’s credit and risk management procedures.

Company Contact

Mr. Mikhail Khodorovsky, Chairman of the Board of Directors

e-mail: skb@skbbank.ru

telephone: +7 343 355-75-01
fax: +7 343 261-60-10

 

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

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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

Project Complaint Mechanism (PCM)

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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.