SKB Bank Subordinated Loan

Location:

Russia

Project number:

38353

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

09 Oct 2007

Status:

Disbursing

PSD disclosed:

21 Sep 2007

Project Description

The proposed project envisages providing upper Tier II capital in the form of a subordinated loan. The operation will support the Company’s growth and enable the Company to pursue its strategy of business expansion in the Urals and enhance its competitive position in the retail and SME markets.

Transition Impact

  • The project will enhance the ability of a strong regional bank to compete and promote competition in the Russian banking sector by extending access to capital beyond the state-owned banks and large Moscow-banks.
  • By channelling additional capital into the banking system, the project will increase financial intermediation in the banking sector.

The Client

SKB is one of the leading regional financial institutions in the Urals region, offering a wide range of banking services to medium-size and small companies as well as individuals through a network of 62 outlets in the Urals region.

EBRD Finance

A ten-year subordinated loan of RUB 600 million (equivalent of EUR 17 million), to be included under the Subordinated Loan Framework for Russian Mid-sized Banks.

Project Cost

RUB 600 million (equivalent of EUR 17 million).

Environmental Impact

SKB will be required to comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks and to apply these procedures to the whole range of its commercial lending operations. This includes adherence to the FI Environmental 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 procedures, and submission of annual environmental reports to EBRD.

Technical Cooperation

None.

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

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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