EBRD lends €10 million to Intesa Sanpaolo Banka d.d. BiH
Credit line will support residential mortgage financing
The European Bank for Reconstruction and Development (EBRD) is extending a €10 million mortgage loan to Intesa Sanpaolo Banka d.d. Bosnia and Herzegovina for on-lending to private borrowers for housing purposes. The new credit line addresses growing demand and is an extension of a €15 million mortgage line approved in July 2019.
Sub-loans to private individiuals will finance improvements of housing conditions, where there is high potential especially in the field of energy efficiency and saving. Developing the housing stock is alkso expected to boost mortgage lending in the country.
Manuela Naessl, EBRD Head of Bosnia and Herzegovina, said: “The extension of the mortgage line comes at a critical time as banks strive to maintain their lending for housing despite the Covid-19 crisis. We are pleased that together with our partner Intesa Sanpaolo Banka we continue to support long-term financing. We are particularly happy that this credit line will support many people in Bosnia and Herzegovina in securing a new or better home.”
Marco Trevisan, CEO of Intesa Sanpaolo Banka, on the occasion of signing this credit line said:We are extremely pleased that with the support of the EBRD we can provide our customers with more favorable loans which can be used to improve housing conditions while also achieving better energy efficiency results.
We are very convinced, , now that we are going through very difficult living and working conditions due to the COVID-19 pandemic,that with this new initiativeIntesa Sanpaolo Banka will contribute to substantially support the the mortgage/housing sector in BiH and make sure that our customers can be able to obtain advantageous products capable of fulfilling their dreams and aspirations.
Intesa Sanpaolo Banka d.d. BiH, a subsidiary of the Italian banking group Intesa Sanpaolo, is a long-standing partner of the EBRD and services the whole territory of Bosnia and Herzegovina with a wide network of branches.
Since it began operations in Bosnia and Herzegovina in 1996, the EBRD has invested more than €2.7 billion in 191 projects in the country.