Summary of Proposed Investment
Project Number
5105
Company Name
Trscanska Stedionica Banka d.d.
Date SPI Disclosed
Oct 20, 1995
Country
Croatia
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Global Industry, Financial Markets
Environmental Category
C - No Impact
Previous Events
Approved : Dec 21, 1995
Signed : Sep 30, 1997
Invested : Mar 10, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Croatia-Joint Venture Bank |
| Region | Europe |
Sector
Project No005105
Projected Board DateNovember 30, 1995
Company NameTrscanska Stedionica Banka D.D. (T.S. Banka D.D.)
Technical Partner and/or Major Shareholders
Technical partner and majority shareholder is Cassa di Risparmio di Trieste Banca S.P.A., Italy (51%). Other Italian shareholders are Simest (7.5%) and Finest (7.5%). The main local shareholders are Croatia Banka (4%), Transadria Company (5%), and Istarska Banka (2%). The remaining 9% are held by nine other Croatian investors. IFC will have a 14% share.
Project Cost Including proposed IFC investment
The Company will have DM15 million (US$10.7 million) equivalent in paid-in capital, of which IFC will subscribe to up to DM2.1 million (US$1.5 million) equivalent.
Location of project and Description of site
Zagreb, Croatia
Description of Company and Purpose of Project
The project involves the establishment of a joint-venture commercial bank in Croatia. The Bank will mobilize resources in both local and foreign currencies and will provide corporate and retail banking services. This would be IFC''s first investment in Croatia since independence.
Environmental Category and Issues
This is a category C project according to IFC’s environmental review procedure and as such requires no further environmental evaluation.
| Date SPI sent to PIC | October 20, 1995 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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