Garanti Leasing signs loan agreement for EUR 10 mln with the Black Sea Trade and Development Bank

Garanti Leasing, part of Garanti Romania, has signed a loan agreement of EUR 10 million with the Black Sea Trade and Development Bank (BSTDB). The facility will be used to support Garanti Leasing’s activities and provide financial leases to small and medium-sized enterprises (SMEs) in particular for equipment, machinery, and commercial vehicles.

This is the second agreement between Garanti Leasing and the BSTDB, aiming to encourage local SMEs and their development. Previously, the two institutions have partnered in 2014 for a five year loan, amounting to EUR 7.5 million.

“The SMEs represent an important segment within the Romanian economy and we are a supporter of their business growth. We are thus glad to extend our partnership with The Black Sea Trade and Development Bank. In the months to come we will continue to focus on a healthy sustainable growth and on further diversifying our portfolio of financed assets,” stated Okan Yurtsever, general manager, Garanti Leasing.

“Diversifying access to finance for Romanian business using new and alternative tools is among BSTDB’s priorities. We are committed to assisting Romanian SMEs and pleased to continue our successful partnership with Garanti Leasing,” said Ihsan Ugur Delikanli, president of BSTDB.

In the first half of 2017, Garanti Leasing has granted new financing worth EUR 38 million, continuing the same increasing trend as last year. The distribution of new funded assets, in the first six months of the year, was: vehicles (51 percent), equipment (20 percent) and real estate (29 percent).

In August, Garanti Leasing had a total assets volume of RON 764 million (EUR 166 million).

Garanti Leasing is part of the financial-group Garanti Romania since 2010.

BSTDB is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine.