25036 - Finans Romania

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Summary of Proposed Investment

Project Number

25036

Company Name

CREDIT EUROPE BANK (ROMANIA) SA

Date SPI Disclosed

Jun 23, 2006

Country

Romania

Industry

Financial Markets

Projected Board Date

Jul 26, 2006

Status

Completed

Sector

Commercial Banking - General

Department

Regional Industry FIG LAC & EUR

Environmental Category

Previous Events

Approved : Nov 17, 2006
Signed : Nov 24, 2006
Invested : Dec 15, 2006

Project Description

The proposed transaction consists of a 7-year loan to Finansbank Romania (the Bank or FB), a fully controlled subsidiary of a former IFC client, Finansbank A.S. Turkey, for up to EUR20 million. The objective of this transaction is to enable the Bank to access long term financing to fund its expansion in the growing sectors of the Romanian economy in particular SMEs.

FB was a result of the acquisition of Banca de Credit Industrial si Comercial SA in Romania in 2000. It is a small dynamic bank with 1% market share in terms of total assets. Finansbank Romania is providing a wide range of SME, corporate and retail banking services.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	50.0
Equity

Development Impact

The development impact of this transaction would include:

- providing long term funding to fast growing Romanian SMEs that have become a significant engine of growth;
- strengthening the Bank’s balance sheet, improving its asset liability management and enabling the Bank to expand its financial intermediation capacity.

This project is expected to have a high development impact impacting SMEs. The bank is focusing its lending activity on the SME sector. This is a strategic sector to IFC in Romania which is still under-serviced and is one of the most dynamic sectors of the economy. The project is expected to improve SME access to finance by meeting critical capital investment needs and supporting their growth, and will have a demonstration effect by encouraging other financial institutions to increase lending activities to the underserved segment.

This project has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure.

During appraisal, IFC will analyze the FI portfolio and determine the Applicable Requirements based on an analysis of the potential Environmental and Social risks associated with the FI portfolio. The Applicable Requirements would include:

- the IFC Exclusion List and/or
- the National Environmental and Social Laws

Based on the Applicable Requirements, the project will be required to:

- develop an Environmental and Social Management System (ESMS), prior to disbursement that is satisfactory to IFC, to ensure that its investments/activities are in compliance with Applicable Requirements.
- identify responsible qualified persons to manage the ESMS.
- commit to implement the ESMS and take action to remedy any gaps in ESMS implementation on an ongoing basis.

Contacts

For Inquiries About the Project, Contact

Mr. Omer Tetik, VP
12, Splaiul Unirii, Bl B6, 4th district
040034 Bucharest – Romania
Telephone: +40 21 308 5000
Fax: +40 21 318 0969

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This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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