BSTDB starts cooperation with Garanti Leasing Türkiye to support SMEs

Press Release | 12-Jul-2017

The Black Sea Trade and Development Bank (BSTDB) provided EUR 20 million leasing facility to Garanti Leasing, a subsidiary of Garanti Bank and BBVA.

The BSTDB financing will facilitate access to longer term SME leasing finance for machinery and equipment, and contribute to business expansion in the real sector of the Turkish economy.

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 EUR 100 million.

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Established in 1990, Garanti Leasing (Garanti Finansal Kiralama A.Ş.) is currently the second largest leasing company in Türkiye. The Company has a well-diversified asset portfolio in terms of industry, equipment types and geographical regions, and provides leasing services to a broad customer base. Being the only leasing company in Türkiye rated by both S&P and Fitch, the credit ratings of Garanti Leasing (BBB-/BB by Fitch//S&P) is aligned with those of its majority shareholder, Garanti 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 “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