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Assisting Banca Intesa Belgrade with its support to Serbian SMEs, in particular in the agriculture sector
Project
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Signature date
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Location
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Serbia
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Financing tool
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Financing amount (Euro)
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23 000 000,00
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Customer
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Banca Intesa Ad Beograd
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Type of customer
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Financial institution
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Country of headquarters
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Serbia
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Project number
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CRS1039
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a €23 million ARIZ portfolio guarantee to Banca Intesa Belgrade to facilitate access to financing for Serbian SMEs, in particular in the agriculture sector.
Client presentation
Founded in 1991, Banca Intesa Belgrade (BIB) is today Serbia’s largest bank in terms of assets, deposits and market cap. It has 3,079 employees and an extensive network of 150 branches. The bank initially operated in the Corporate market and rapidly moved towards the universal model by integrating the Italian group Intesa Sanpaolo in 2005. BIB has now restructured its activities to cover retail banking and SMEs. The bank set up a leasing company in 2006. BIB has been the leader in the financial sector in Serbia since 2008.
Project description
The project involves a €23 million ARIZ portfolio guarantee (PG). With a coverage of 50%, this guarantee will enable the deployment of a portfolio of €46 million. It will target the bank’s Agro portfolio (Registered Agricultural Households segment) and SME portfolio (Small Business segment). The purpose of the guarantee is to facilitate access to financing for Serbian small businesses, especially in the agriculture sector. At least 38.5% of the guarantee will specifically target the bank’s agricultural portfolio.
Project impact
The expected impacts of this financing are as follows:
Employment
-11,400 jobs maintained
Start-ups & MSMEs
- 338 microenterprises and 360 SMEs supported