Summary of Proposed Investment
Project Number
11336
Company Name
ERSTE & STEIERMARKISCHE BANK D. D.
Date SPI Disclosed
Feb 5, 2002
Country
Croatia
Industry
Financial Markets
Projected Board Date
Mar 7, 2002
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry - FIG - ECA
Environmental Category
C - No Impact
Previous Events
Approved : Apr 18, 2002
Signed : Sep 3, 2002
Invested : Oct 25, 2002
Project Description
ESB was established in September, 2000 as the successor bank to Bjelovarska Banka d.d., Trgovacka Banka d.d., and Cakovecka Banka d.d. Before the merger, all three banks were under common control of EB and SB. The acquisition and subsequent merger of the three institutions is consistent with the shareholders'' strategy of creating a nationwide universal commercial bank, with a focus on SMEs and retail. Recently, the bank has increased its emphasis on residential housing mortgages. The housing sector is a key government priority due to the housing shortage and associated social and labor mobility issues, the poor condition of existing housing stock, and the economic stimulus possible from housing construction. The proceeds of the project would be used for on-lending to private individuals for residential mortgages.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Boris Centner, Member of the Management Board
Varsavska 3-5 Zagreb 10000
Phone: 385-1-4561-901
Fax: 385-1-4561-900
Varsavska 3-5 Zagreb 10000
Phone: 385-1-4561-901
Fax: 385-1-4561-900