BSTDB starts cooperation with Aklease
Press Release | 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 Türkiye.
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 Türkiye 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, 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