The project will allow the bank to strengthen its position as a leader in banking services to SMEs. The bank will expand and improve the range of its services through investments in new products, management information systems, branch network and services. The bank also intends to contribute to the consolidation of the Bulgarian banking sector through mergers or acquisitions activity.
The project is expected to contribute to the further strengthening and consolidation of the Bulgarian banking sector. It will also demonstrate the EBRD's commitment to the long-term financing of SMEs. In addition, it will demonstrate the EBRD's commitment to work with banks and companies backed by local Sponsors.
Commercial bank Unionbank (CB Unionbank a.d.) is a Bulgarian financial institution that specialises in providing banking services to small and medium sized Bulgarian companies.
Initial equity investment of up to €3.1 million followed by capital increases during the period 2007 – February 2010 of €1.7 million and planned participation in a series of follow-on capital increases of up to €3.1 million in the period 2010 – May 2013.
Up to €3.1 million equity investment at the initial stage (2002), share capital increases in the period 2007 – February 2010 of €28.6 million and up to €51 million of the follow-on capital increases in 2010 – May 2013.
The bank will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, the bank will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements.
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