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Garanti Leasing is the first leasing company in Romania to support women entrepreneurs, by signing a gender finance agreement with IFC

Bucharest, May 24th, 2017 – Garanti Leasing, part of Garanti Romania, one of the most dynamic financial groups on the local market, has signed a loan agreement of EUR 5.5 million with International Finance Corporation (IFC), a member of World Bank Group, with the purpose of financing small and medium sized enterprises owned or managed by women.

Garanti Leasing becomes the first leasing company in Romania that finances women owned or managed SMEs, through an agreement with IFC. The company continues Garanti Bank’s strategy of supporting women entrepreneurs.

This is the third agreement signed by IFC with Garanti Group Romania, targeting to back women entrepreneurship and leadership, and facilitate their access to finance. Previously, Garanti Bank has partenered with IFC, in 2012 (EUR 22.5 million) and 2014 (EUR 35 million), in order to offer loans for the development of businesses owned or managed by women.

“Garanti Leasing, as part of Garanti Group, has an ongoing strategy of supporting companies that have women shareholders or in their top management structures. With this new loan we enforce our long-term commitment of encouraging this segment. In the months to come we will focus on our healthy sustainable growth on the local market and on further diversifying our portfolio of financed assets”, stated Okan Yurtsever, General Manager, Garanti Leasing.

Garanti Leasing is a strong supporter of local SMEs and has previously received EUR 7 million from IFC in this respect.

“IFC is actively supporting women entrepreneurs in Romania through its work with Garanti Group,” said Manuel Reyes-Retana, IFC Regional Head for Financial Institutions Group in Europe, Middle East and North Africa. “Following our loans to Garanti Bank, we are now also engaging with Garanti Leasing to reach even more women entrepreneurs and increase their access to finance, so they can grow their businesses and generate new employment.”

IFC is one of the major international investors in the Romanian economy and an important supporter of the private sector development.

In the first quarter of 2017, Garanti Leasing has granted new financing worth EUR 21.87 million, continuing the same increasing trend as last year.

The distribution of new funded assets, in the first three months of the year, was: vehicles (48%), equipment (18%) and real estate (34%).

About Garanti Leasing

With a tradition of almost 20 years on the Romanian leasing market, Garanti Leasing (the brand under which the company Motoractive IFN SA operates) completes Garanti Group’s range of products and services with offers for vehicles, equipment and real estate leasing, sale & lease-back. The company has disbursed over EUR 800 million for assets under finance leases and entered into over 51.000 lease contracts since its inauguration, currently operating from 8 offices and creating synergies with Garanti Bank’s branches.

Garanti Leasing is part of the financial-group Garanti Romania since 2010. The Group also brings together Garanti Bank and Garanti Consumer Finance (the brand under which Ralfi IFN 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, with a 49.85% share.

For further details, please visit www.garantibank.ro

About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY16, our long-term investments in developing countries rose to nearly $19 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity.

For more information, visit www.ifc.org

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