Financed ProjectsEvrofinance Mosnarbank 1 - Mortgage Fin.

Identification Code:

OP/08/0704

Total Operation Cost:

0

Maturity:

90 months

Operation Status:

Description and Purpose of the Operation:

Provision of a Bank to Bank Loan to Evrofinance Mosnarbank, Russia for mortgage financing purposes. The proceeds of the Loan shall be used by Evrofinance Mosnarbank exclusively for the purpose of providing mortgage sub-loans to local borrowers eligible in accordance with criteria agreed with BSTDB.

Countries of Operation:

Russia (100,00 %)

Financial Product:

Loans

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

Evrofinance Mosnarbank Moscow was established in 2003 as a result of a merger of Bank Evrofinance and CB Mosnarbank. At the end of 2007 Evrofinance Mosnarbank had USD 2,009 million of assets and USD 418 million of equity. The bank is ranked 51st by net assets, 37th by equity and 40th by profit. Since 2005 Evrofinace Mosnarbank is on the list of the top 1,000 world banks published by the British magazine "The Banker". The bank benefits from VTB Bank's presence as a key shareholder. Evrofinance Mosnarbank delivers international quality banking services which are divided into corporate banking, retail banking, treasury and investment banking. The bank is granted international banking awards. The branch network of Evrofinance Mosnarbank covers 25.3% of the total Russia’s population through 12 branches and 5 rep offices and 731 employees work in the head office and branches. It is rated Ba3 by Moody’s and B by Fitch with stable outlooks.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

BSTDB financing will contribute to the support currently provided to the Russian banking system by the government and IFIs providing the much- needed long-term financing. The Mortgage credit line to Evrofinance Mosnarbank will support the Borrower in developing residential mortgage lending program and improving access of the Russian population to affordable funding to improve their living conditions.

Environmental Classification and Impact (summary):

The Borrower is required to conduct its business with due regard to the environment and public occupational health and safety. The Borrower needs to observe the BSTDB Negative List of Products, including environmental regulation and standards in effect from time to time in Russian Federation.

Operation Leader:

Financial Institutions II

E-mail:

fi2@bstdb.org