Summary of Proposed Investment
Project Number
10453
Company Name
SEB BANKAS AB
Date SPI Disclosed
Sep 29, 2000
Country
Lithuania
Industry
Financial Markets
Projected Board Date
Oct 31, 2000
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry FIG LAC & EUR
Environmental Category
FI
Previous Events
Approved : Nov 13, 2000
Signed : Nov 16, 2000
Invested : Nov 29, 2000
Project Description
VB’s recently completed merger with Bankas Hermis has dramatically changed the structure of its balance sheet. In order to strengthen the capital base of VB, the client has asked IFC to consider providing the proposed subordinated loan. By improving the VB''s capital position, the proposed project would permit VB to prudently expand its operations to better serve Lithuania’s developing corporate sector including small and medium sized enterprises (SMEs). This project would be a key component of IFC''s strategy to target SMEs in the Baltics, together with the Baltic SME Fund which would provide equity and quasi-equity financing to a wide range of SMEs in Estonia, Latvia and Lithuania. Moreover, IFC would contribute to the development of Lithuania’s banking sector by strengthening the leading private sector bank. This would be IFC''s first financial sector investment in Lithuania.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Vilniaus Bankas AB
Financial Institutions Department
12 Gedimino Avenue
LT-2600 Vilnius, Lithuania
telefax: 3702-612-629
Financial Institutions Department
12 Gedimino Avenue
LT-2600 Vilnius, Lithuania
telefax: 3702-612-629