UniCredit Bank Serbia mortgage

Location:

Serbia

Project number:

50637

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

25 Apr 2019

Status:

Passed Final Review, Pending Board Approval

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

UNICREDIT BANK SERBIA JSC

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

None.

Company Contact Information

Milan Davidovic
milan.davidovic@unicreditgroup.rs
+381113777853
www.unicreditbank.rs
Jurija Gagarina 12, Belgrade, Serbia

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