Overview

ICBC (Europe) Poland Branch provides a €130 million EUR loan to mBank for unspecified purposes

Commitments (Constant USD, 2023)$156,820,502

Commitment Year•2016Country of Activity•PolandDirect Recipient Country of Incorporation•PolandOverseas Jurisdiction•PolandSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 20, 2016

Last repayment (originally scheduled): May 20, 2019

Geospatial footprint

Map overview

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This agreement supports ICBC loan to mBank S.A., which is located at Prosta 18, 00-850 Warszawa, Poland. More detailed locational information can be found at: https://www.openstreetmap.org/node/9804299722.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (Europe) S.A. (ICBC (Europe))

Receiving agencies

Private Sector

mBank S.A. (formerly BRE Bank)

Loan description

ICBC (Europe) Poland Branch provides a €130 million EUR loan to mBank for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On May 20, 2016, the Poland Branch of the Industrial and Commercial Bank of China (Europe) S.A. entered into a €130 million EUR loan agreement ($1.1 billion HKD) bilateral loan agreement with mBank S.A. — a Polish bank listed on the Warsaw Stock Exchange — for unspecified purposes. This loan carried a maturity period of three years. This was the first ICBC loan to a Polish bank. In 2019, mBank repaid the ICBC loan.

Staff comments

1. mBank SA (formerly BRE Bank) and originally BRE – Bank Rozwoju Eksportu (Export Development Bank), was Poland's fourth largest universal banking group in terms of total assets and loans, and fifth by deposits at the end of September 2016. It offered retail, corporate and investment banking as well as other financial services such as leasing, factoring, insurance, financing of commercial real property, brokerage operations, wealth management, corporate finance and advisory in the scope of capital markets. It is listed on the Warsaw Stock Exchange. Since 2007 it has retail operations in the Czech Republic and Slovakia.