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EBRD will raise participation in SDM-Bank capital to 20% and provide RUB 300 million loan

25.12.2013

The Board of Directors of the EBRD has approved the EBRD’s participation in a planned capital increase by SDM-Bank which will raise the EBRD’s stake from the current 15.0% to 19.8% of SDM’s capital and voting rights, subject to the approval of the Central Bank of Russian Federation.

At the same time, the EBRD board gave the green light for signing a 4-year loan totaling 300 million rubles to finance small and medium-sized businesses (SMEs) in Russia.

The EBRD became a major international institutional shareholder in SDM-Bank’s equity in 2011 when it acquired a 15% stake and is represented on the bank’s board of directors.

“This collaboration has strengthened SDM’s corporate governance and enhanced the operational efficiency of the bank, said George Orlov, the EBRD’s Director for Financial Institutions, Russia. - The EBRD's equity investment and loan will support SDM-Bank's growth and development strategy which is focused on the Russian SME sector”.

This will be the second EBRD loan to the SDM-Bank aimed at strengthening and growing SME lending. In 2010, the EBRD extended unsecured credit facilities totaling 375 million rubles. The main part of the 2010 loan (RUB225 million) was destined for the SME sector while RUB150 million was set aside for micro credits.

"The new equity investment and loan facility complement SDM-Bank's core business - supporting and developing the SME sector in Russia - while giving greater access to credit for our existing and future customers," commented Maxim Solntsev, CEO of SDM-Bank.

About SDM-Bank

JSC SDM-Bank was established in 1991. The bank holds license No 1637 issued by the Bank of Russia. The bank participates in the Deposit Insurance System since 2004. The bank offers services to small and medium enterprises and their employees.

The Bank's head office is in Moscow. Its branch network comprises 13 full-service branches in Moscow and Moscow Region, 9 regional branches in Perm, Voronezh, Saint-Petersburg, Krasnoyarsk, Tver, Nizhniy Novgorod, Omsk and Rostov-on-Don, Yekaterinburg and a representative office in London.

As of October 1, 2013 SDM's Capital was RUB 4.1 bn, SDM-Bank’s Net Assets were RUB 36.6 bn (under IFRS).

In May 2013 Fitch Ratings upgraded SDM-BANK’s IDR to «B+» with a Stable Outlook.

www.sdm.ru

About the EBRD

The European Bank for Reconstruction and Development (EBRD) fosters transition to market economies in countries from central and eastern Europe to central Asia and the southern and eastern Mediterranean.

The European Bank for Reconstruction and Development (EBRD) is an international financial organisation headquartered in London that funds projects in over 30 countries from Central and Eastern Europe to Central Asia and the southern and eastern Mediterranean. EBRD was founded in 1991. Its shareholders are 64 governments and two international institutions, the European Investment Bank and the European Union (EU).

www.ebrd.com

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