Trscanska Stedionica - Banka D.D.

completed

Summary Of Project Information (SPI)Project NameCroatia-Joint Venture Bank     RegionEuropeSectorProject No005105Projected Board DateNovember 30, 1995Company 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, CroatiaDescription 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, 1995For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365