Summary of Proposed Investment
Project Number
22624
Company Name
TSENTR-INVEST, OAO KB
Date SPI Disclosed
Sep 22, 2004
Country
Russian Federation
Industry
Financial Markets
Projected Board Date
Oct 22, 2004
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Dec 20, 2004
Signed : Dec 21, 2004
Invested : Dec 24, 2004
Project Description
Established in 1992, Centre-Invest (CI or the Bank) is the largest privately owned bank in the
Rostov Region and among the largest 150 Russian banks. CI has traditionally serviced large
corporates and SMEs in the Rostov Region. CI has an excellent reputation in its home market which
has enabled the Bank to attract the most important enterprises in the region as clients, as well as the
second largest retail deposit base after Sberbank. More recently, the Bank has begun expanding to
neighboring regions in the south of Russia. The purpose of the project is to provide the Bank with
additional funds to onlend to SMEs in the southern Russia for working capital and investment
purposes and to strengthen the Bank’s capitalization. This project is IFC’s second transaction with
Center Invest Bank and builds on a partnership begun in 2002, when IFC provided a $2 million
loan for onlending to SMEs.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Vassily Vysokov, President
Pr. Sokolova 62
Rostov-on-Don, Russia
Phone: 7-8632-648618