UNIBANKA CAPITAL INCREASE 2002

Location:

Slovak Republic

Project number:

29935

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

08 Oct 2002

Status:

Completed

PSD disclosed:

25 Sep 2002

Project Description

The EBRD is participating in UniBanka's capital increase to continue supporting this existing client and the completion of its restructuring and turn-around.
The capital increase is required to allow UniBanka to implement its revised business plan envisaging: a) introduction of new services and products for retail clients; b) expansion into the SME segment; c) consolidation of the bank’s position among mid size corporates; d) re-organisation and expansion of the branch network; e) re-organisation of the work forces and strengthening of the sales force; f) investments in IT systems.
 
 

Transition Impact

The transition impact of this project refers to the original commitment of the EBRD to turn-around the former Pol’nobanka and the renewed commitment made to UCI, the strategic investor, to help implementing UniBanka’s revised business plan. UniBanka’s strengthening and maintenance of its market share is crucial for reinforcing the local banking sector’s competition. UniBanka is one of the most important financial institution in the Slovak Republic offering services especially in the regions outside of Bratislava and to the agribusiness sector.

The Client

UniBanka a.s. (formerly Pol’nobanka) Bratislava, the sixth largest bank in the Slovak Republic in terms of assets (SKK 29.7 billion., Euro equivalent 689 million). UniBanka is majority owned by Unicredito Italiano ("UCI") the second largest Italian bank.

EBRD Finance

Participation in the forthcoming 2002 capital increase for SKK 150 million (Euro 3.5 million) exercising the EBRD pre-emptive rights as existing shareholder.

Project Cost

The total capital increase is called for SKK 750 million (Euro 17.4 million) and would be subscribed by UCI as well as some minority shareholders.

Environmental Impact

UniBanka already carries out its operations in accordance with EBRD’s Environmental Procedures for Local Banks. In implementing these procedures, UniBanka requires its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.

Technical Cooperation

None.

Company Contact

 

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)

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Text of the PIP

Project Complaint Mechanism (PCM)

The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.

Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (pcm@ebrd.com) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.

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