The Bank’s major shareholders are: Atlant-M Holding – 64% and private equity fund manager Horizon Capital – 34%.

Atlant-M is a diversified holding headquartered in Minsk and operating one of the largest car dealerships in Russia, Belarus, and Ukraine. The holding markets 17 various auto brands but flagship brand (Volkswagen) accounts for majority of its sales. Atlant-M also operates in pharmaceuticals distribution, IT, construction and other sectors. Its beneficiary owners are three individuals - Siarhei Savitsky, Igor Malgin and Oleg Khusaenov

Horizon Capital became a shareholder of the Bank in 2007. It is a U.S. based private equity fund manager investing in growing mid-cap companies in Ukraine, Belarus and Moldova. It has been successfully operating in the region for over 15 years and currently manages three funds with total assets exceeding $600 million. Horizon Capital investors include IFC, other IFI’s, banks and pension funds from U.S. and Europe.

IFC investment will consist of $10 million 5-year senior loan (Type B).

10.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	10.0
Equity

* These investment figures are indicative

The Bank is headquartered in the capital of Belarus, city of Minsk. It operates 30 outlets in 5 out of 6 regions of Belarus, including 15 outlets in Minsk.

IFC development impact in the MTB investment will be measured according to the following indicators:
i) support a growing private sector bank through provision of long-term funding and expertise;
ii) provide access to finance for SME''s as a part of its long-term objective to develop private sector in Belarus;
iii) enhance competitiveness of the economy by addressing environmental and energy efficiency challenges faced by local enterprises.     

IFC additionality in the MTB investment would be to:
i) provide the Bank with the longer term funding to on-lend to SMEs and energy efficiency related projects;
ii) provide advisory support for development of energy efficiency and SME focused products;
iii) assist the Bank with development and implementation of the adequate Social & Environmental Management System (SEMS);
iv) expand long-term partnership with a well-managed private local bank.     

The proposed investment has been classified as Category FI. MTB Bank will be required to ensure compliance of the activities financed with the IFC Exclusion List, Belorussian environmental and social laws and regulations, and the IFC Performance Standards. CES appraisal will focus on the client’s portfolio risk and the Bank’s existing capacity to manage environmental and social risks of its investments. In addition, due diligence will be carried out on the Bank’s HR policies and practices to determine compliance with IFC’s Performance Standard 2: Labor and Working Conditions. If needed, CES will provide recommendations to address any gaps. Final applicable requirements will be determined once IFC reviews the client’s portfolio, labor standards, and existing E&S capacity. The client will be required to develop a Social and Environmental Management System (SEMS), nominate staff responsible for SEMS implementation, and submit Annual Environmental Performance Reports (AEPRs) to IFC.