BSTDB Supports Leasing in Romania
Press Release | 08-May-2014
The Black Sea Trade and Development Bank (BSTDB) approved a EUR 7.5 million loan to Garanti Leasing Romania for on-lending to small- and medium-sized enterprises (SMEs) for financing the lease of capital goods. The term of the facility is five years.
“At a time when businesses continue to face limited access to financing mechanisms, leasing serves as an alternative funding source stimulating job creation and income generation. We expect that the financing we are providing today will also contribute to the regional cooperation between Romania and Türkiye, which is a BSTDB objective as a regional development bank”, said Mr. Nejdet Sarisozen, BSTDB Director for Financial Institutions.
“Three years ago we started focusing more on the corporate and SME segments, paying attention to our clients’ specific needs, so that we are able to offer the best finance options for their investments. The SME segment is a priority sector for the Romanian economy and these small and medium companies need proper sources of financing in order to obtain the flow of credit necessary to grow their businesses. Therefore, we are very glad to sign this partnership and help SMEs by improving their access to finance, especially since this project also benefits the development of the local economy”, stated Okan Yurtsever, General Manager Garanti Leasing.
BSTDB extended its first leasing facility in 2003 and since then has signed 16 leasing operations in the amount of EUR 103 million in Bulgaria, Georgia, Moldova, Romania, Russia and Türkiye. The operation increases the amount of signed leasing operations to over EUR 110 million.
* * * * * * * * * * *
With a tradition of over 15 years on the Romanian leasing market, Garanti Leasing (the brand under which the company Motoractive IFN SA operates) completes Garanti Group’s range of products and services with offers for vehicles, equipment and real estate leasing, sale & lease-back. The company has disbursed over EUR 650 million for assets under finance leases and entered into over 40,000 lease contracts since its inauguration, currently operating from 7 offices and creating synergies with Garanti Bank’s 78 branches.
Garanti Leasing is part of the financial-group Garanti Romania since 2010. The Group also brings together Garanti Bank and Garanti Consumer Finance.
Garanti Group Romania is owned by Turkiye Garanti Bankasi AS (TGB), the most profitable and the second largest private bank in Türkiye by assets. TGB is also amongst the top 20 strongest banks in the world, according to the rankings compiled in May 2013 by Bloomberg. For further details please access http://www.garantileasing.ro/.
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 “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