The European Bank for Reconstruction and Development (EBRD), a development finance institution based in the United Kingdom, has agreed to loan EUR 10 million (USD 14 million) to Banca Intesa Beograd, a Serbian commercial bank, to facilitate on-lending to small and medium-sized enterprises (SMEs) in the country. Banca Intesa Beograd plans to use the funds to expand its loan portfolio by offering medium- and long-term credit, with the intention of helping companies modernize and boost production.
Banca Intesa Beograd is a member of Italy’s Intesa Sanpaolo, a commercial banking group that has subsidiaries in 17 countries. As of March 31, 2011, Intesa Sanpaolo reports total assets worth an equivalent of USD 881 billion. As of December 31, 2010, Banca Intesa Beograd reports total assets worth USD 4.3 billion. Banca Intesa does not report financial data to the US-based nonprofit Microfinance Information Exchange (MIX).
By Rohan Trivedi, Research Associate
About The European Bank for Reconstruction and Development:
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe and Central Asia. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). Its operating assets for fiscal 2009 were reportedly EUR 6.1 billion (USD 8 billion).
About Banca Intesa Beograd:
Banca Intesa Beograd is a commercial bank based in Belgrade, Serbia. Its products include retail and small business loans, savings, bonds, guarantees and farmer loans. In addition, Banca Intesa offers mobile banking services. Banca Intesa Beograd is a member of Italy’s Intesa Sanpaolo, a commercial banking group that has subsidiaries in 17 countries. As of March 31, 2011, Intesa Sanpaolo reports total assets worth an equivalent of USD 881 billion. As of December 31, 2010, Banca Intesa Beograd reports total assets worth USD 4.3 billion. Banca Intesa does not report financial data to the US-based nonprofit Microfinance Information Exchange (MIX).
Sources and Additional Resources:
[1] EBRD Press Release: “EBRD Supports Real Economy in Serbia”, http://www.ebrd.com/pages/news/press/2011/110801.shtml
MicroCapital.org story, July 8, 2011: “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $3m in Local Currency Somoni to Microfinance Provider Imon International of Tajikistan to Support Small Businesses”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-to-loan-3m-in-local-currency-somoni-to-microfinance-provider-imon-international-of-tajikistan-to-support-small-businesses-10/
MicroCapital.org story, March 21, 2011: “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Provides $89m to Finance Small and Medium-Sized Enterprises (SMEs) Through ProCredit Bank Moldova and UniCredit Bank Serbia”, https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-provides-89m-to-finance-small-and-medium-sized-enterprises-smes-through-procredit-bank-moldova-and-unicredit-bank-serbia/
MicroCapital Universe Profile: European Bank for Reconstruction and Development, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
MicroCapital Universe Profile: Banca Intesa, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Banca+Intesa
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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