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.
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.
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.
Subscription to SKB’s newly issued shares and SME Term.
Update: subscription to additional new shares
EUR 36.8 million
Update: up to RUB 250.1 million (EUR 6.1 million)
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.
TC has been provided in 2008 within the Regional Institution Building Framework to enhance SKB’s credit and risk management procedures.
Mr. Mikhail Khodorovsky, Chairman of the Board of Directors
telephone: +7 343 355-75-01
fax: +7 343 261-60-10
For business opportunities or procurement, contact the client company.
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Tel: +44 20 7338 7168
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Text of the PIP
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