Press Releases

New BSTDB financing for leasing development in Romania


13-Sep-2017

Okan Yurtsever, General Manager of Garanti Leasing and Ihsan Ugur Delikanli, BSTDB President at the signing.

The Black Sea Trade and Development Bank (BSTDB) is extending a EUR 10 million loan to Garanti Leasing in Romania. Garanti Leasing will use the BSTDB financing to provide financial leases to small and medium-sized enterprises (SMEs) in particular for equipment, machinery, and commercial vehicles.

 

The loan is addressing short term funding requirements of Garanti Leasing and will work on revolving basis with a possibility for extension. This is the second facility provided by BSTDB to Garanti Leasing, after the first senior loan of EUR 7.5 million extended in 2014.

 

“Diversifying access to finance for Romanian business using new and alternative tools is among BSTDB’s priorities. We are committed to assisting Romanian SMEs and pleased to continue our successful partnership with Garanti Leasing that underlines our ongoing dedication to bolstering SMEs in the Black Sea region we serve.”, said Ihsan Ugur Delikanli, BSTDB President.

 

“The small and medium-sized companies represent an important segment within the Romanian economy and we are a strong supporter of their business growth. We are thus glad to extend our partnership with The Black Sea Trade and Development Bank. This new agreement enforces our long-term commitment of encouraging Romanian SMEs. In the months to come we will focus on a healthy sustainable growth on the local market and on further diversifying our portfolio of financed assets.”, stated Okan Yurtsever, General Manager, Garanti Leasing.

 

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Garanti Leasing (the brand under which Motoractive IFN SA operates) undertakes financial leasing activities for vehicles, trucks, real estate and equipment. It operates through its head office located in Bucharest and eight branches across Romania and created synergies with Garanti Bank S.A. in terms of cross-selling and building on the latter’s branches in the country. They have financed over EUR 800 million for assets under finance leases for over 53,000 lease contracts since its inauguration in 1998. At Aug’17, the company had total assets of RON 764 million (EUR 166 million). Garanti Leasing is part of Garanti Group Romania (Garanti Leasing, Garanti Bank and Garanti Credite de Consum), one of the most dynamic financial groups on the Romanian market, dedicated to best serving its clients, through fast and innovative financing solutions.

 

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

 

 

 



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