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Romania's Garanti BBVA Leasing signs 20 mln euro loan deal with BSTDB

Romania's Garanti BBVA Leasing signs 20 mln euro loan deal with BSTDB Garanti BBVA Leasing general manager Okan Yurtsever Source: Garanti BBVA

BUCHAREST (Romania), May 17 (SeeNews) - Garanti BBVA Leasing, part of Garanti BBVA Romania, said on Monday it signed a 20 million euro ($24.2 million) loan agreement with the Black Sea Trade and Development Bank (BSTDB).

The loan facility will be used to provide financial leases to small and medium-sized enterprises (SMEs) in acquiring equipment, machinery, and vehicles, Garanti BBVA said in a press release.

"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," Garanti BBVA Leasing general manager Okan Yurtsever said.

This is the third agreement signed by Garanti BBVA Leasing and the BSTDB that aims to strengthen Romanian SMEs and their development during uncertain times. Previously, the two institutions partnered for a 7.5 million euro loan in 2014 and for a 10 million euro loan in 2017.

Garanti BBVA Leasing is part of Garanti BBVA Romania financial group held by Garanti BBVA Turkey majority owned by Spanish financial group Banco Bilbao Vizcaya Argentaria.

BSTDB 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.

($ = 0.826 euro)

Garanti Bank SA is among the biggest banks in SEE, for more reference take a look at Top 100 banks
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