Kredyt Bank S.A Capital Increase III

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Further capital increase to support the activities of Kredyt Bank PBI, a private universal bank based in Warsaw. Project objectives: Capital increase to fund KB-PBI’s continuing expansion and to maintain prudential capital adequacy. The investment will maintain the EBRD’s current shareholding percentage at 9.25 per cent. The investment in KB-PBI will contribute to the transition in Poland in three principal ways: (1) by supporting a key private bank in the sector through a rapid expansion; (2) by providing funding for lending to Polish enterprises, principally small and medium-sized enterprises (SMEs); and (3) by contributing towards the consolidation of the Polish banking sector. Kredyt Bank PBI S.A. (KB-PBI) is a full-service universal bank, with headquarters in Warsaw. It is the ninth-largest bank in Poland by assets with an extensive nationwide branch network. Its core business includes provision of loans and guarantees, treasury and foreign exchange services, deposit and term account maintenance, and payment transfers for the corporate and retail private sector. Equity investment of PLN 36.7 million (EUR 8.6 million) PLN 374 million (EUR 88 million) KB-PBI will carry out its operations in accordance with the EBRD's Environmental Procedures for Local Banks. In implementing these procedures, KB-PBI will require its borrowers to comply, at a minimum, with national /local health, safety, environmental and public consultation requirements. None