SOCIETE GENERALE YUGOSLAV BANK SUBORDINATED DEBT

Location:

Serbia

Project number:

34605

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

09 Dec 2003

Status:

Completed

PSD disclosed:

26 Sep 2003

Project Description

The proposed project involves granting a subordinated loan to Société Générale Yugoslav Bank in order to diversify the bank's capital base and provide for a sound growth in its banking activity and balance sheet.

Transition Impact

The subordinated loan will contribute towards strengthening the banking sector in Serbia by supporting the expansion of one of the recognised market participants. Larger capital base will allow for increased lending and expansion of other activities, which will contribute towards higher banking sector intermediation role in the economy.

The Client

Société Générale Yugoslav Bank A.D. was established in 1990 as a joint-venture bank. Since 2001, it has been a full subsidiary of Société Générale, Paris. The bank is the 11th largest in terms of total assets in Serbia and ranks 4th in terms of total saving deposits from private individuals. Over the past two years it has expanded its banking operations and regional presence significantly.

EBRD Finance

Subordinated loan in the amount of €8.5 million.

Project Cost

Subordinated loan in the amount of €8.5 million.

Environmental Impact

Société Générale Yugoslav Bank will apply the EBRD's Environmental Procedures for local banks to the full range of its commercial lending and investment portfolio. In implementing these procedures, the bank will assess potential environmental issues associated with its borrowers, who will be required to comply, at a minimum, with local/national health, safety, environmental and public consultation requirements. The bank will also submit annual environmental reports to the EBRD.

Technical Cooperation

None.

Company Contact

Société Générale Yugoslav Bank 
Vladimira Popovica 6,
11070 Belgrade
Serbia and Montenegro
Phone: (381) 11 145 190
Website: www.socgenyu.com
 

Business opportunities

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