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Locko Bank.

Russia | Financial Institutions

Identification Code:: OP/11/0862
Total Operation Cost:: 25.000.000 USD
Maturity:: 48 months
Operation Status:: BSTDB Approved Amount – Approval Date

25.000.000 USD – 10 Feb 2012
: BSTDB Signed Amount – Signed Date

25.000.000 USD – 12 Jul 2012
: Status:
Completed
Description and Purpose of the Operation:: Provision of Bank to Bank Loan for SME financing purposes. The proceeds of the Loan shall be used by the Borrower exclusively for the purpose of providing loans to SMEs eligible in accordance with the eligibility criteria agreed with the Bank. The Loan aims to contribute towards expanding of the SME lending program of one of the leading banks on the SME lending market in Russia and thus facilitate the access to finance for small and medium sized private businesses and entrepreneurs.
Countries of Operation:: Russia (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Locko Bank was founded in 1994 as a captive bank and since 1998 operates as a universal financial institution offering a full range of banking services across various sectors of the Russian economy with major focus on SMEs.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: Working with Locko Bank will assist BSTDB in its objective to support the development of the SME sector in the countries of the Black Sea region. Due to the Locko Bank’s well-established market presence and strong commitment to develop SME lending, BSTDB will be able to support growth and expansion of small and medium sized businesses and entrepreneurs which cannot be otherwise accessed by BSTDB directly.
Environmental Classification and Impact:: In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from trade finance activities, the Borrower shall follow the BSTDB's Negative List of Products and local EH&S legislation, as well as make sure that the beneficiaries fully comply with these requirements.
Operation Leader:: Financial Institutions II
E-mail:: fi2@bstdb.org