The EBRD is considering a mortgage loan of up to €10 million to UniCredit Bank Serbia JSC for on-lending to private individuals in Serbia. The proceeds of the loan will be used by UniCredit Bank Serbia to provide long-term financing for residential mortgages in Serbia.
The Mortgage Loan will contribute to the transition process by maintaining an essential flow of lending to private individuals at a time when the availability of credit, particularly on very long terms, has been constrained. Transition impact potential also derives from the demonstration effect associated with the improvement of competitiveness, transparency for final mortgage sub-borrowers and raising standards of residential mortgage lending.
At the end of 2013, UniCredit Bank Serbia’s total assets amounted to €2,198 million and total equity €441 million, while the net profit reached €33 million. UniCredit Bank is ranked third among Serbian banks in terms of total assets, with a market share of 8.85% of total banking assets as of end-December 2013.
SME Credit Line - €10 million, in two equal tranches.
Categorised FI. UniCredit Bank Serbia will be required to comply with EBRD’s Performance Requirement (“PR”) 9 when making mortgage loans, conduct their business in accordance with PR 2, implement the EBRD’s E&S Procedures for Mortgage lending and submit Annual Environmental and Social Reports to the Bank. Borrowers will be required to comply with applicable national environmental, health and safety and labour requirements. UniCredit Bank Serbia is an existing client with good environmental standards.
UniCredit Bank Serbia JSC
Mr. Rastko Nicic
Head of Business development
Omladinskih brigada 88
Phone: 00 381 11 3771 216
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