Bucharest, May 17, 2021 – Garanti BBVA Leasing, part of Garanti BBVA Group Romania, one of the most dynamic financial groups on the local market, has signed a loan agreement of EUR 20 million with the Black Sea Trade and Development Bank (BSTDB). The new loan will be used to provide financial leases to small and medium-sized enterprises (SMEs) in acquiring equipment, machinery, and vehicles.
This is the third agreement signed by Garanti BBVA Leasing and the BSTDB, aiming to strengthen the local SMEs and their development during uncertain times. Previously, the two institutions have partnered in 2014 for a EUR 7.5 million loan and in 2017 for another loan amounting EUR 10 million.
“Supporting our customers’ needs is Garanti BBVA Leasing’s number one priority, which is why we are very pleased to continue our long-standing partnership with the Black Sea Trade and Development Bank, through the third agreement. The SMEs represent an important segment of the Romanian economy, and we want to continue to be a solid and trusted partner, by supporting our customers in developing their projects and businesses. We proved our customers that we are a long-term partner for them, and they can rely on us, including in challenging times”, stated Okan Yurtsever, General Manager, Garanti BBVA Leasing.
This loan will offer Garanti BBVA Leasing the means to finance SMEs, as leasing provides an significant source of long-term financing to smaller businesses, which may not have the extensive collateral needed for bank loans.
“BSTDB remains committed to supporting the leasing market in Romania and we are pleased to continue our partnership with Garanti BBVA Leasing. This new financing underscores the role of leasing as a flexible alternative for SME finance by facilitating access to finance for companies to overcome economic slowdown and support recovery, at a time when credit implications due to the coronavirus pandemic are still serious”, said Hasan Demirhan, BSTDB Vice President Banking. “This operation is also a strong testimony of the Bank’s role in supporting regional cross-border investments and we are proud to join forces with Garanti BBVA Group in the times of economic turbulence”.
About Garanti BBVA Leasing
Garanti BBVA Leasing (the brand under which the company Motoractive IFN SA operates) is part of the financial group Garanti BBVA Romania. The Group also brings together Garanti BBVA and Garanti BBVA Consumer Finance (the brand under which Ralfi IFN operates).
With a tradition of over 20 years on the Romanian leasing market, Garanti BBVA Leasing completes Garanti BBVA Group’s range of products and services with offers for vehicles, equipment and real estate leasing, sale & lease-back.
Garanti BBVA Group Romania is held by Garanti BBVA Turkey (TGB), whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).
For further details, please visit: www.garantibbvaleasing.ro
About the Black Sea Trade and Development Bank
The Black Sea Trade and Development Bank (BSTDB), an international financial institution with headquarters in Thessaloniki, Greece, was established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. BSTDB started operations in June 1999 and has authorized capital of €3.45 billion. The Bank supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private enterprises and public entities in the member countries. BSTDB is rated A-/A-2 by Standard & Poor’s, and A2/P1 by Moody’s.
For more information on BSTDB, please visit www.bstdb.org
