Project description
and objectives:
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The proposed project will consist of the subscription of 8.84% of Mobiasbanca’s capital and voting rights in newly issued shares of Mobiasbanca.
The transaction will support the entry of a strategic investor - Société Générale - in the Moldovan banking sector and strengthen Mobiasbanca’s capital base, thus facilitating development of its operations.
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Transition impact:
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The transition impact of the project will be achieved through the demonstration effect on setting standards for corporate governance and business conduct, skills transfer and increase of competition.
The project will support strategic investor entrance to Moldovan market through the acquisition of Mobiasbanca by SG that will strengthen MB’s management and supervisory board with professionals from SG Group, who will guide MB in implementing SG’s corporate governance practices, and creating a new benchmark for corporate governance in the Moldovan banking sector. As part of the international banking group, Mobiasbanca is offered intensive development programmes to its employees aiming at bringing their technical and managerial skills to the best international standards.
Institutional strengthening and increased operational efficiency of Mobiasbanca will ultimately materialise in business growth, greater market share and increased financial intermediation.
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The client:
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CB Mobiasbanca JSC was established as a private bank in Moldova in June 1990. It has a full banking license and provides the full range of banking services. It is a universal bank and is Moldova’s sixth largest commercial bank. Mobiasbanca’s capital is majority owned by Société Générale who acquired it in 2007.
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EBRD finance:
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Subject to the signing of a subscription agreement with Mobiasbanca and to the satisfaction of customary conditions precedent set out therein (including prior approval by the National Bank of Moldova), EBRD will subscribe to 8.84% of Mobiasbanca’s capital and voting rights in newly issued shares.
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Total project cost:
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tbc
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Environmental impact:
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Screened FI. Mobiasbanca is a long-standing client of the Bank and is successfully implementing the Bank' s Environmental Procedures for Financial Intermediaries. Under this proposed transaction Mobiasbanca should extend the application of the environmental procedures across its lending and investment activities and continue providing the Bank with annual environmental reports.
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Technical
cooperation:
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Mobiasbanca was one of three commercial banks in Moldova who benefited from short-term consultancy support in 2005 and in 2007 aimed to improve credit skills and risk management. The project was designed to support implementation of Medium-Sized Co-financing Facility and was funded by ETC Donor Fund administered by EBRD.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Jean-François Myard
President of the Executive Committee
Mobiasbanca S.A.
81-A Stefan cel Mare
Chisinau, MD-2012
Republic of Moldova
Fax : (37322) 244182
Web-site: www.mobiasbanca.md
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EBRD contact:
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Octavian Costas, Operation Leader: costaso@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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