The European Bank for Reconstruction and Development (EBRD), a London-based multilateral financial institution, intends to loan EUR 30 million (USD 39 million) to the Serbian branch of UniCredit Bank, an Italy-based financial group with operations in 22 countries, for on-lending to private small and medium-sized enterprises (SMEs) in Serbia. Approval of the transaction is pending final review by EBRD. If approved, the credit line is to be disbursed in two equal installments.
In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion). UniCredit Serbia reported an operating income of RSD 13.7 billion (USD 157 million), return on equity before tax of 13.57%, a loan portfolio of EUR 1.4 billion (USD 1.8 billion) and total assets of RSD 199 billion (USD 2.3 billion) as of 2011.
By Lena Phillips, Research Associate
About UniCredit Bank Serbia
UniCredit Bank Serbia is a member of UniCredit Group, an Italy-based, pan-European financial institution. UniCredit Group has a presence in 22 countries with over 9,500 branches that successfully service millions of clients. UniCredit Group is present on the Serbian financial market as UniCredit Bank Serbia since 2001 with a network of 75 branches. UniCredit Serbia reported an operating income of RSD 13.7 billion (USD 157 million), return on equity before tax of 13.57%, a loan portfolio of EUR 1.4 billion (USD 1.8 billion) and total assets of RSD 199 billion (USD 2.3 billion) as of 2011.
About The European Bank for Reconstruction and Development (EBRD)
The European Bank for Reconstruction and Development (EBRD) is a multilateral 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, Central Asia and North Africa. 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). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).
Sources and Additional Resources:
European Bank for Reconstruction and Development Project Summary: “UCB Serbia – SME Credit Line,” http://www.ebrd.com/pages/project/psd/2013/44895.shtml
MicroCapital.org Article, 8 March 2013: “MICROCAPITAL BRIEF: EBRD Plans $200m to Expand Turkish Sustainable Energy Finance Facility (TurSEFF) for Small and Medium-sized Enterprises, Private Households,” https://www.microcapital.org/microcapital-brief-ebrd-plans-200m-to-expand-turkish-sustainable-energy-finance-facility-turseff-for-small-and-medium-sized-enterprises-private-households/
MicroCapital.org Article, 16 November 2011: “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Loans $10m to UniCredit Bank of the Kyrgyz Republic,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-loans-10m-to-unicredit-bank-of-the-kyrgyz-republic/
MicroCapital.org Article, 2 August 2011: “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) to Loan $14m to Banca Intesa Beograd of Serbia for On-Lending to Small and medium-Sized Enterprises (SMEs),” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-to-loan-14m-to-banca-intesa-beograd-of-serbia-for-on-lending-to-small-and-medium-sized-enterprises-smes/
MicroCapital.org Article, 11 July 2011: “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Commits $42m to UniCredit to Boost SMEs in Russia,” https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-commits-42m-to-unicredit-to-boost-smes-in-russia/
MicroCapital Universe Profile: UniCredit Bank Serbia, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Unicredit+Bank+Serbia
MicroCapital Universe Profile: European Bank for Reconstruction and Development (EBRD), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=European+Bank+for+Reconstruction+and+Development+%28EBRD%29
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