BSTDB Financing to Garanti BBVA Romania to Support Long-term Growth
Supporting Capital Adequacy and Financial Stability
The Black Sea Trade and Development Bank (BSTDB) is providing a 7-year of EUR 10 million subordinated loan to Garanti BBVA Romania (GBR). The proceeds of the loan will be used for Garanti BBVA Romania's general corporate purposes and to expanding its loan portfolio to support local businesses. This operation will contribute to sustaining the Borrower's sound capital adequacy and diversifying its funding sources, enabling it to comply with EU and Romanian banking regulations. Additionally, this loan will support cross-border cooperation and economic ties between BSTDB Member-States Romania and Türkiye.
The operation is expected to have a positive ripple effect throughout the entire economy in Romania by adding tax revenue gains, increase employment, export capacity and competitiveness.
This new loan agreement reaffirms BSTDB's commitment to supporting Garanti BBVA Romania's growth and development and enhancing the financial stability of the region.
"This loan represents another significant step in our enduring partnership with Garanti BBVA Romania and the wider Garanti BBVA Group," said Dr. Serhat Köksal, President of BSTDB. "It is a testament to our commitment to long-term partnerships that support cross-border cooperation. We are dedicated to promoting financial stability and supporting the long-term growth of our partners in the region. This new funding will equip Garanti BBVA Romania with the necessary resources to continue their valuable work in the Romanian market."
"We are delighted to enhance our partnership with BSTDB through this significant loan and deeply appreciate their ongoing support for our bank and the entire Garanti BBVA Group in Romania. This financial assistance is crucial for enhancing Garanti BBVA's capacity to aid the local business environment. The funds allow us to expand our lending capabilities, underscoring our shared commitment to financial stability and long-term development in the country, ensuring that we contribute positively to Romania's economic landscape," said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.
Garanti BBVA Romania, part of the Garanti BBVA Group Romania, which includes Garanti BBVA Leasing (Motoractive) and Garanti BBVA Consumer Finance (Ralfi), has been a trusted partner of BSTDB for over ten years. The partnership started in 2014 with a EUR 7.5 million loan to Garanti BBVA Leasing, the first-ever loan by an international financial institution (IFI) to the Group. BSTDB has consistently supported the Group's growth since then. In 2017, BSTDB provided a EUR 10 million revolving SME Leasing Facility to Garanti BBVA Leasing, later increased to EUR 15 million, followed by a EUR 20 million loan in 2021. In 2017, BSTDB also extended a EUR 7 million energy efficiency facility to Garanti BBVA Consumer Finance for residential houses and buildings. The most recent transaction with Garanti BBVA Group was a EUR 40 million loan to Garanti BBVA in 2021, aimed at strengthening SME resilience and supporting post-pandemic recovery in Romania.
Garanti BBVA Romaniais part of the Garanti BBVA Romania Group, together with Garanti BBVA Leasing and Garanti BBVA Consumer Finance, which complete the bank's offer with specific leasing products, fleet management services, as well as consumer loans. Garanti BBVA Romania is owned by Garanti BBVA Turkey (TGB), the second-largest private bank in Turkey. The majority shareholder of Garanti BBVA Turkey is the Spanish financial Group Banco Bilbao Vizcaya Argentaria (BBVA).
The Black Sea Trade and Development Bank (BSTDB)is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, 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. For information on BSTDB, visitwww.bstdb.org.
Contact:
Haroula Christodoulou
Phone: +30 2310 290533
: @BSTDB
