foir print

31.08.2017

responsAbility Investments is new shareholder of Center-Invest Bank

Two investment vehicles managed by Switzerland-based responsAbility Investments have purchased a 10% stake of PJSC Center-Invest Bank. The new shareholder of Center-Invest Bank will strengthen the authority of the bank and expand access to financing sources for the growing global market for environmental and socially responsible investments, including energy efficiency projects, agribusiness development, loans for apartment building repairs, women and youth entrepreneurship.

Shareholders structure of Center-Invest Bank as of August 31, 2017:

V.V. and Т.N. Vysokovs (24.43%),

The European Bank for Reconstruction and Development (19.74%),

The German corporation of investments and development DEG (16.14%),

responsAbility Investments AG (10.02%),

Firebird Investment Fund (9.11%),

Erste Group Bank AG (9.01%),

Rekha Holdings Limited (7.49%),

Raiffeisenlandesbank Oberоsterreich Aktiengesellschaft (3.30%),

Others (0.76%).

responsAbility Investments is one of the world’s leading asset managers in the field of development investments, with a strong focus on sustainable development of small business and financial inclusion in developing economies on the basis of innovations and principles of environmental and socially responsible management (ESG: Environmental, Social and Governance), which is becoming more authoritative in the financial world.

The cooperation between Center-Invest Bank and responsAbility Investments AG began in 2013 when other responsAbility-managed fund granted credit lines for financing micro and small business projects in southern Russia.

Center-invest Bank has been successfully implementing the principles of ESG in southern Russia for many years. These principles have confirmed their viability in the conditions of the Russian crisis. In contrast to the speculative Center-Invest Bank did not raise interest rates in a crisis (and this position helped to stabilize the situation in the financial market of southern Russia), the bank together with customers developed measures to reduce risks, and therefore these measures reduced risks even in conditions of crisis, then there was no need to raise rates. The cheaper loans became a competitive advantage of the customers, it allowed them to complete their projects, fulfill their obligations in time and in full. The profit of Center-invest Bank (according to IFRS) in 2015 was more than RUB 0.5 bn, in 2016 — RUB 1 bn.

About responsAbility Investments AG (www.responsAbility.com)

responsAbility was founded in 2003 and today has USD 3.2 bn of assets under management invested in 550 companies in 97 developing countries. Its shareholders include leading representatives of the Swiss financial market. responsAbility is headquartered in Zurich and has local offices in Bangkok, Geneva, Hong Kong, Lima, Luxembourg, Mumbai, Nairobi, Oslo and Paris.The company operates under the supervision of the Swiss Financial Market Supervisory Authority FINMA.