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Garanti Leasing signs a loan agreement for EUR 15 million with European Fund for Southeast Europe

Bucharest, December 4, 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 15 million with the European Fund for Southeast Europe (EFSE). The facility is meant to increase access to financing for local micro and small enterprises and individual entrepreneurs.

This is the second time Garanti Leasing partners with EFSE. Previously, the two institutions have signed an agreement in 2014, for a EUR 7 million loan, aimed at encouraging the development of local micro and small enterprises (MSEs).

“Entrepreneurship is an important factor that has boosted the development of the economy in Romania. Garanti Leasing, like all Garanti Group institutions, is a strong supporter of entrepreneurs, and we have a long term commitment to stand by them with tailored business development solutions. EFSE has been a partner for Garanti Leasing in the past years and we are thus glad to sign this new agreement and reinforce our mutual objectives”, stated Okan Yurtsever, General Manager, Garanti Leasing.

“We are very pleased to expand our cooperation with Garanti Leasing Romania. The company has the expertise, capacities and infrastructure to reach out to businesses across the country in a responsible manner, furthering the development goals of EFSE”, said Christoph Tiskens, Chairman of the Board, EFSE.

In the first nine months of 2017, Garanti Leasing has granted new financing worth over EUR 63 million, over 1,000 new contracts having been signed between January and September. The distribution of new funded assets, in the first nine months of the year, was: vehicles(50%), equipment (22%) and real estate (28%).

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 900 million for assets under finance leases and entered into over 53,000 lease contracts since its inauguration, currently operating from 6 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.

For more information, please visit http://www.garantileasing.ro/

About the European Fund for Southeast Europe

The European Fund for Southeast Europe (EFSE) was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey.

EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding the EFSE provides as long-term finance primarily for micro and small enterprises (MSEs) – but also for private households in the form of home improvement loans – is channelled to these loan customers through local partner lending institutions. Supporting the EFSE’s investment activities is the EFSE Development Facility, which provides partner lending institutions with technical assistance, consulting and training services to build operational capacities and professional management.

For more information about the European Fund for Southeast Europe, please visit: http://www.efse.lu/

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