Summary of Proposed Investment
Project Number
11184
Company Name
ATE BANK ROMANIA SA
Date SPI Disclosed
Nov 22, 2002
Country
Romania
Industry
Financial Markets
Projected Board Date
Feb 15, 2003
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Jun 9, 2004
Signed : Dec 9, 2004
Invested : Jan 4, 2005
Project Description
Mindbank was incorporated in Romania in 1990 as the "Bank for Small Industry and Free Enterprise". Mindbank is licensed by the National Bank of Romania to conduct all commercial banking activities and is principally engaged in carrying out banking services for small enterprises. The purpose of the credit line would be to extend the tenor of small business loans and, with the support of external technical assistance, develop a project finance capability geared to small enterprises, local cooperatives and microentrepreneurs. IFC's convertible credit line will facilitate the entry of a strategic technical partner, which is expected to lead to an improvement in Mindbank's lending technology and enhance its long term perspective as a sustainable niche player in the Romanian banking sector.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Emil Radu, Deputy Chairman,
24 Calea Grivitei, Bucharest - Romania