Press Releases

BSTDB starts cooperation with Aklease


11-Jul-2017

The Black Sea Trade and Development Bank (BSTDB) has provided EUR 20 million loan to Ak Finansal Kiralama A.Ş., (Aklease) to support small and medium sized enterprises (SMEs) in Turkey.

 

The BSTDB loan will assist Aklease to respond to the market demand for medium term leasing contracts. The loan will be used to finance leases of equipment, machinery and industrial/commercial properties by Turkish SMEs. 

 

Following its strategic priority to assist the development of non-bank financial sector, BSTDB is increasingly offering leasing facilities to local financial institutions in member countries. The operation will bring the total BSTDB financing provided to the Turkish leasing sector to approximately EUR 100 million.

 

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Aklease was established in 1988 and is one of the top leasing companies in Turkey with around EUR1.5 billion assets as of year-end 2016. It is a core subsidiary of Akbank given the entities’ shared branding and integration, and Aklease’s role as the sole provider of leasing products for Akbank. The company (rated BB+ by Fitch) is fully owned and controlled by Akbank (rated BB+/Ba1 by Fitch/Moody’s). Akbank is a premier financial institution and is the 3rd largest privately owned bank in the country.

 

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.

 

 

Press contact:

Haroula Christodoulou

Phone: +30 2310 290533

E-mail: cchristodoulou@bstdb.org