📋 Tender Overview
Location: Poland
Project number: 54991
Business sector: Financial institutions
Notice type: Private
Environmental category: FI
Project Description
EBRD is considering an equity co-investment in Velobank SA ("Velobank"), alongside Cerberus Capital Management in furtherance to a competitive sale process. EBRD's expected stake is around 10%. Velobank is currently owned by the Polish Resolution Authority, Bank Guarantee Fund ("BFG").
Project Objectives
The Project supports the successful resolution of a medium-sized bank in Poland and an increase in private ownership in the Polish banking sector.
Transition Impact
ETI score: 70
The expected transition impact stems from its contribution to the Resilient and Well-Governed qualities:
Resilient: The Project supports the transition of Velobank to private ownership, and its subsequent re-capitalisation to stabilise and put Velobank on a path towards sustainable development.
Well-Governed: The Project is expected to strengthen Velobank's corporate governance practices including through implementation of a comprehensive climate governance plan.
