BSTDB finances its first leasing operation in Türkiye

Press Release | 07-Jan-2014

The Black Sea Trade and Development Bank (BSTDB) announces the financing of a Euro 30 million loan to Iş Leasing Türkiye. The maturity of the loan is five years.

Financial Leasing is a perfect tool of financing investments of SMEs for capital goods, in the case of lack of sufficient collateral. In particular, this project would have positive development impact on the SME sector in Türkiye. The BSTDB loan will allow İş Leasing to meet its medium-term funding needs associated with SMEs and respond to demand from local business for longer term leasing contracts. 

Since its inauguration, BSTDB signed 15 leasing operations in the amount of EUR 72 million in Bulgaria, Georgia, Moldova, Romania and Russia. The operation is the first involvement of BSTDB in the leasing sector in Türkiye, increasing the amount of signed leasing operations to EUR 102 million.

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İş Finansal Kiralama A.Ş. (“Is Leasing”), founded in 1988, is one of the strong and reliable firms in Türkiye. Its shares are listed in stock exchange since 2000 and it is regulated and supervised by the banking regulatory supervision authority and capital markets board of the country.

İş Leasing is majority owned by İşbank group holding 57% of its shares and around 43% of its shares are publicly traded and listed in the Borsa Istanbul.  İşbank group is a financial conglomerate, where Türkiye İş Bankası A.Ş. is the main financial body. Founded in 1924, İşbank (rated BBB/Baa2/BB+ by Fitch/Moody’s/S&P) is the largest private bank in Türkiye

As of Jun’13, İş Leasing and its subsidiary had 150 employees operating from its headquarters located in İşbank towers and 7 regional offices across the country, together with synergies created by around 1300 branches of its parent bank.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, 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 “A3” by Moody’s. For more information on BSTDB, visit www.bstdb.org.

Press contact:

Haroula Christodoulou

Phone: +30 2310 290533

E-mail: cchristodoulou@bstdb.org