Summary of Proposed Investment
Project Number
11719
Company Name
PRIORBANK OAO
Date SPI Disclosed
Apr 8, 2003
Country
Belarus
Industry
Financial Markets
Projected Board Date
May 9, 2003
Status
Completed
Sector
Commercial Banking - General
Date Revised SPI Disclosed
Apr 8, 2003
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : May 23, 2003
Signed : Jun 24, 2003
Invested : Sep 24, 2003
Project Description
Priorbank (or the bank), a leading private bank, is the third largest in Belarus, with net worth of $28 million and assets of $284 million equivalent as of December 31, 2002. In addition to its corporate and SMEs activities, Priorbank actively works with trading and retail sectors and provides a wide range of other financial services. The bank’s main strategic goal is to build on its leading position in the market by providing comprehensive corporate and retail client services based on advanced banking technology and professional management. The bank is planning to use IFC funding to expand its lending portfolio to medium-sized private corporates in various sectors of the economy.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Sergey Kostyuchenko, Chairman of the Board
31- A, V.Khoruzhey Str, Minsk 220002,
Republic of Belarus
Phone: 375 17 217 3401
Fax: 375 17 234 1554
31- A, V.Khoruzhey Str, Minsk 220002,
Republic of Belarus
Phone: 375 17 217 3401
Fax: 375 17 234 1554