Project Description
The proposed project envisages an equity investment to acquire 15% of the share capital in Hansabank’s newly acquired Russian subsidiary. The investment will support the USD 100 million capital increase of the bank and allow it to expand its operations into a full service bank.
Transition Impact
The proposed transaction will support the entry of new strategic investor into Russia that has experience of operating in similar environment to Russia. This will increase competition in the Russian banking sector and support the development of it.
The Company will focus on serving Baltic, Scandinavian and Russian companies involved in cross-border trade between these countries. Hence the transaction will also help to facilitate cross-border trade between Russia and European Union.
The Client
Hansabank, 99% owned by Swedbank, is the largest financial services group in the Baltic states. Its operations consists of retail and corporate banking, life insurance and asset management in three Baltic states.
EBRD Finance
Equity investment of USD 15 million for purchasing recently issued shares from AS Hansabank.
Project Cost
USD 100 million.
Environmental Impact
Hansabank will be required to comply with EBRD’s Environmental Procedures for Intermediated Financing through Local Banks, including adherence to the Environmental Exclusion and Referral List, compliance with the applicable national environmental, health and safety legislation, and submission of annual environmental reports to EBRD.
Technical Cooperation
None.
Company Contact
Mr. Druvis Murmanis, CEO
Tel: +7 095 777 63 77
Fax: +7 095 777 63 78
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
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
