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Garanti Consumer Finance signs a loan agreement for EUR 7 million with The Black Sea Trade and Development Bank

Bucharest, July 24, 2017 – Garanti Consumer Finance, part of the financial group Garanti Romania, one of the most dynamic ones on the local market, has signed a loan agreement of EUR 7 million with the Black Sea Trade and Development Bank (BSTDB).

The loan facility will be used to finance energy efficiency, renewable energy and water-saving solutions in the residential sector.

“Energy efficiency reduces energy costs and leads to financial savings for customers. It is our mission to support and stand by our clients, while creating added value to their lives. Therefore, the partnership with BSTDB represents an important endeavor. Garanti Consumer Finance, as all Garanti institutions, is a supporter of ambitious projects. We have a strong commitment here and signing this agreement further confirms our long-term strategy”, stated Bogdan Dobre, General Manager, Garanti Consumer Finance.

„Improving energy efficiency is a key element of a modern energy policy. We are happy to partner with Garanti Consumer Finance to help cut the CO2 emissions, improve energy performance and quality of life of Romanian households and contribute to national energy and environmental goals. Savings in energy consumption and reduced losses will greatly benefit the Romanian economy and consumers”, said Dmitry Pankin, BSTDB President.

This is the first agreement between the two institutions and the third signed by Garanti Group Romania with BSTDB. Previously, Garanti Leasing partnered with BSTDB in 2014, for a EUR 7.5 million loan, and 2017, for a EUR 10 million loan, with the aim of supporting local SMEs.

In the first half of 2018, Garanti Consumer Finance has granted a total finance volume worth EUR 37.2 million, continuing the same increasing trend as last year.

About Garanti Consumer Finance

With a tradition of over 20 years on the Romanian financial market, Garanti Consumer Fianance (the brand under which the company Ralfi IFN SA operates) completes Garanti Group’s range of products and services with offers tailored to the specifics of each partner: loans in stored, personal needs loans, consumer credit insurance (income protection plan and / or extended warranty for the purchased product).

Part of financial-group Garanti Romania since 2010, Garanti Consumer Finance has developed a solid client portfolio and has expanded its presence nationwide, currently having 72 branches. The Group also brings together Garanti Bank and Garanti Leasing (the brand under which Motoractive IFN SA operates).

Garanti Group is held by Turkiye Garanti Bankasi AS (TGB), Turkey’s second largest private bank. TGB is a universal bank with leading presence in all business lines. The bank serves more than 14 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services. The Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of TGB.

For further details, please visit www.garanticreditedeconsum.ro

About the Black Sea Trade and Development 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, Turkey, 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.

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