BSTDB Boosts Support for Turkish Leasing Sector
Press Release | 28-Mar-2019
The Black Sea Trade and Development Bank (BSTDB) will increase the availability of funds to private small and medium-sized enterprises (SMEs) in Türkiye with a EUR 30 million SME Leasing Facility to İş Leasing. The facility has a maturity of five years and will be used to upgrade capital assets and improve competitiveness of the Turkish SME sector.
This is the third facility extended by BSTDB to İş Leasing over the past six years. The previous similar facilities, provided in 2013 and 2016, served more than 300 businesses. The new facility is expected to reach to another 150 SME clients of İş Leasing across Türkiye.
“BSTDB is committed to supporting the leasing market development in Türkiye, as part of its strategy to help SMEs diversify their access to finance. It is especially important now, in this time of turmoil, for our Bank to provide support to the dynamic SME sector in Türkiye. The expansion of our partnership with İş Leasing, a long standing client with an excellent management track record, will have an important development impact through increased export capacity and competitiveness of Turkish businesses, tax revenues gains and creation of new jobs in the country,” said Dmitry Pankin, BSTDB President.
“İş Leasing is pleased to sign a financing agreement with BSTDB. This new long term facility shows the confidence and commitment of BSTDB to our country and İş Bank group. İş Leasing will continue providing financing to SME’s with the aim of increasing their production capabilities and supporting their global competitiveness,” said Mehmet Karakılıç, İş Leasing CEO.
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İş Leasing (İş Finansal Kiralama A.Ş), is a premier leasing company founded in 1988. The company is a core subsidiary of Isbank (the largest private bank in Türkiye), given their common branding, integration and İş Leasing’s role as the group’s sole provider of leasing services. For more info: http://isleasing.com.tr/home/
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
Twitter: @BSTDB