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Summary of Project Information (SPI)

This Summary of Project Information is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only.
Project number24247
Project nameBanca Intesa A.D. Beograd
CountrySerbia and Montenegro
SectorCommercial Banking - General
Department
Company nameBanca Intesa Beo
Environmental categoryFI
Date SPI disclosedJanuary 23, 2006
Projected board dateFebruary 23, 2006
StatusActive
Previous EventsInvested: June 9, 2006
Signed: May 12, 2006
Approved: March 2, 2006

Description of company and purpose of project
The project company is Banca Intesa A.D. Beograd of Serbia-Montenegro or “the Bank”, one of the largest commercial banks in Serbia in terms of total assets, and one of the country’s best-managed financial institutions. The Bank offers traditional banking products (both at the retail and wholesale levels), and has an active presence in structured finance, equipment leasing, cash management, international banking and treasury.

The proposed project consists of:
- an IFC minority equity investment; and
- a tier II qualifying subordinated debt in Banca Intesa A.D. Beograd of Serbia-Montenegro.

This proposed investment will be made along with Banca Intesa, which acquired a majority stake in the Bank’s shareholding.

Project sponsor and major shareholders of project company
Gruppo Intesa (also referred to as Banca Intesa) is Italy’s largest banking group with a 14% share of customer deposits and a 13% share in loans. It currently serves 8 million clients via over 3,000 branches all across Italy. It is also one of the leading banking groups in Central and Eastern Europe, where it serves 3.5 million clients out of about 700 branches. The Bank currently controls 90% plus one shares of Banca Intesa Beograd A.D.

Total project cost and proposed IFC investment
The proposed project consists of an IFC equity investment of a minority stake, as well as a Tier II qualifying Subordinated debt.

Location of project and description of site
The Bank is headquartered in Belgrade, Serbia and Montenegro and operated a nation-wide network of 144 branches. At year end 2004, Banca Intesa A.D. Beograd employed a total of 1,300 staff.

Project Development Impact and IFC's Role
By partnering with Intesa, IFC plays a strong role in the development of the banking sector in Serbia and in the broader Balkan region. This region, parts of which are still emerging from war and economic crisis, desperately needs strong and sustainable financial institutions to be established in order to rebuild their financial markets, and revive and sustain economic growth by providing credit to the private sector.

Environmental and social issues - Category FI
This is an FI Type 1 project. Banca Intesa A.D. Beograd must establish and maintain an environmental management system to ensure that investments under the relevant operations meet host country environmental, health and safety requirements and are consistent with IFC’s exclusion list.

To contact the project company, please write to:
Mr. Adriano Arietti
Executive Director M &A
Foreign Banks Division
Banca Intesa
Tel: +390287937572
Fax: +390287937276

OR

Mr. Rainer Lovato
M &A and Corporate Development
Foreign Banks Division
Banca Intesa
Tel: +390287937843
Fax: +390287937828

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