📋 Tender Overview
PROJECT ID:15439
GUARANTEE HOLDER: BNP Paribas S.A.
INVESTOR COUNTRY: France
ENVIRONMENTAL CATEGORY: FI
DATE SPG DISCLOSED: April 08, 2025
TARGET BOARD DECISION DATE: May 08, 2025
PROJECT TYPE: Non-SIP
FISCAL YEAR: 2025
Project description
This summary covers equity investments by BNP Paribas S.A. (BNPP or the Group), in its subsidiary in Ukraine, JSC UKRSIBBANK (UKRSIBBANK or the Subsidiary). The investor has applied for a MIGA guarantee of up to EUR100 million for capital optimization cover for a period of up to 1 year and 1 day (the Project).
BNP Paribas is a global systemically important bank headquartered in Paris, France, and active in 63 countries. It is the largest bank in the European Union in terms of total assets. It offers a comprehensive range of services including retail banking, corporate and institutional banking, wealth management, and specialized financial solutions. BNP Paribas’ operations in the Central and Eastern Europe (CEE) region include the Czech Republic, Hungary, Romania, Slovakia, Poland, and Ukraine.
UKRSIBBANK is one of the Ukraine's largest universal banks. It provides a comprehensive range of financial services, catering to both individual and corporate clients. It is 60% owned by BNP Paribas.
Environmental Categorization
JSC UKRSIBBANK provides financial products and services to individuals, small and medium enterprises, and corporates in Ukraine. The MIGA guarantee will support transactions across these three segments. The main sectors supported by the bank are commerce and trade, manufacturing, and agriculture and food processing. The transactions and sectors supported by UKRSIBBANK are typically considered to have limited E&S risks and impacts that are generally site-specific, largely reversible and can be addressed through mitigation measures. This project has thus been categorized as FI-2 in accordance with MIGA’s Policy on Environmental and Social Sustainability (2013).
The main E&S risks of this project relate to UKRSIBBANK’s ability to identify, assess, and manage the E&S risks and impacts associated with its lending activities and the management of labor matters. MIGA analyzed the bank’s portfolio for types of transactions, tenor, size, industry sectors, and exposure to MIGA’s Exclusion List. MIGA also analyzed the bank’s E&S risk management procedures in line with the requirements of Performance Standard 1: Assessment and Management of Environmental and Social Risks and Impacts (PS1), and the bank’s labor practices in line with the requirements of Performance Standard 2: Labor and Working Conditions (PS2).
The applicable E&S requirements for lending portfolio for this project will be: (i) MIGA Exclusion List; (ii) applicable E&S laws in Ukraine; and (iii) the Performance Standards (for eligible corporate transactions).
As of October 2024, UKRSIBBANK’s portfolio included the following business segments – retail/consumer lending, 29%; small and medium en
