Renaissance Credit Ukraine

complete

The proposed project will consist of a senior credit facility of up to USD 25 million to support the growth of the retail lending business of the Bank Renaissance Capital in Ukraine. The credit facility will support one of few high quality retail lenders in Ukraine with robust operating standards and transparent lending terms, and thereby contribute to the further development of the Ukrainian retail lending sector. Bank Renaissance Capital is a fast-growing Ukrainian commercial bank, specialising in retail banking. Established in 2003, the company started operations in 2006 and currently ranks 51st in the Ukrainian banking sector by total assets (out of 176 licensed banks). Bank Renaissance Capital belongs to the Renaissance Group, one of the leading independent investment banks in Russia. USD 25 million senior loan. USD 25 million. The EBRD does not require any specific environmental procedures for the consumer lending as it considers there to be limited associated environmental, health, safety and social risks, if any. Bank Renaissance Capital and its lending activities shall comply with Ukrainian national environmental, health, safety and labour regulations and standards as well as with the Core Labour Conventions of the International Labour Organisation related to child and forced labour and discrimination at work. A technical assistance project is underway in connection with the loan for the establishment of Ukrainian Consumer Finance Association with a view of improving operating and disclosure standards, increasing consumer awareness and establishment of a centralised credit bureau in Ukraine. Igor Kozhevin Chief Financial Officer Bank Renaissance Capital Ukraine "Artyom Business Center" 4 Hlubochitska Street 04050 Kiev Ukraine Tel +38 044 390 5805 Email: ikozhevin@rccf.ua