UniCredit Bank Serbia mortgage



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

25 Apr 2019



PSD disclosed:

25 Mar 2019

Translated version of this PSD: Serbian

Project Description

A senior loan of up to €60 million to UniCredit Bank Serbia JSC ("UCB") for mortgage lending.

Project Objectives

The proceeds of the loan will be used by UCB to provide long-term financing for residential mortgage lending in Serbia.

Transition Impact

Transition impact is expected to derive from the expansion of the mortgage market in Serbia through provision of long term funding. Mortgage penetration remains low in Serbia and mortgage lending has further room for growth subject to availability of sufficiently long-term funding.

Client Information


With total assets of EUR 3.7 billion as at end-2018, UCB is one of the leading and largest universal banks in Serbia with strong foothold in corporate and consumer lending. It is one of the most profitable banks in Serbia with outstanding operating efficiency and strong branch network. UCB is 100% owned by UniCredit Spa, Italy.

EBRD Finance Summary

EUR 60,000,000.00

Total Project Cost

EUR 60,000,000.00

Environmental and Social Summary

Categorised FI (2014 ESP). UCB is an existing client of the Bank and is satisfactorily implementing the Bank's E&S requirements. UCB will be required to continue to comply with the EBRD's Performance Requirements (PRs) 2, 4 and 9 and continue submitting the EBRD FI Sustainability Index to the Bank on an annual basis. UCB will be required to comply with the EBRD's E&S Procedures for Mortgage Lending.

Technical Cooperation


Company Contact Information

Milan Davidovic
Jurija Gagarina 12, Belgrade, Serbia

Business opportunities

For business opportunities or procurement, contact the client company.

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Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

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