Summary of Proposed Investment
Project Number
25174
Company Name
PROCREDIT BANK SA
Date SPI Disclosed
Oct 6, 2006
Country
Romania
Industry
Financial Markets
Projected Board Date
Nov 6, 2006
Status
Completed
Sector
Commercial Banking - Microfinance and Small Business
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : May 14, 2007
Signed : Jun 22, 2007
Invested : Jul 18, 2007
Project Description
The proposed project comprises a senior term loan in local currency to ProCredit Bank S.A. Romania (Procredit Bank or the Bank), for $15 million equivalent. The proposed IFC Loan will be used to fund the expansion of the loan portfolio of the Bank which is focused on micro, small and medium sized enterprises.
Procredit Bank is a development-oriented full service bank, specialized in providing financing to micro, small and medium-sized enterprises (MSMEs) in Romania. The Bank was established in 2002 as part of a global network of ProCredit banks. It started operations in July 2002 following the acquisition of Microenterprise Credit Romania SRL which was renamed to Microfinance Bank MIRO S.A. and in 2004, changed to its present name.
Procredit Bank was the first bank in Romania to specialize in serving MSMEs and to date, it is the only Bank that focuses primarily on lending to this target group. In addition to its lending activities, the Bank with 24 branches nationwide, offers a full range of banking services and products including domestic and international money transfers, international trade finance, debit cards and foreign exchange transactions.
Procredit Bank is a development-oriented full service bank, specialized in providing financing to micro, small and medium-sized enterprises (MSMEs) in Romania. The Bank was established in 2002 as part of a global network of ProCredit banks. It started operations in July 2002 following the acquisition of Microenterprise Credit Romania SRL which was renamed to Microfinance Bank MIRO S.A. and in 2004, changed to its present name.
Procredit Bank was the first bank in Romania to specialize in serving MSMEs and to date, it is the only Bank that focuses primarily on lending to this target group. In addition to its lending activities, the Bank with 24 branches nationwide, offers a full range of banking services and products including domestic and international money transfers, international trade finance, debit cards and foreign exchange transactions.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Michael Kowalski, General Manager
ProCredit Bank S.A.
62 - 64 Buzesti Street
Sector 1
Bucharest, Romania
Telephone: +40-21-201-6045
Fax: +40-21-201-6002
E-mail: michael.kowalski@procreditbank.ro
Website: www.procreditbank.ro
ProCredit Bank S.A.
62 - 64 Buzesti Street
Sector 1
Bucharest, Romania
Telephone: +40-21-201-6045
Fax: +40-21-201-6002
E-mail: michael.kowalski@procreditbank.ro
Website: www.procreditbank.ro
For Inquiries and Comments About IFC, Contact
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster