BSTDB Accelerates SME Leasing Financing in Russia Amid Pandemic
The Black Sea Trade and Development Bank (BSTDB)has provided a RUR 2.5 Billion Medium-Term SME Leasing Facility to JSC Europlan, a market leader in auto leasing in Russia. The loan will support Europlan in acquiring and on-leasing commercial and passenger vehicles to small and medium-sized enterprises (SMEs). The operation will promote vehicle renewal and competitiveness in the automotive industry, while also contributing to SME sector development in Russia.
The BSTDB financing will allow entrepreneurs to continue business operations under the challenging conditions caused by the coronavirus pandemic.
This is the fifth leasing facility provided by BSTDB to Europlan since 2003, bringing the total amount of financing to the company close to the equivalent of EUR 90 million.
“Providing support to small and medium-sized businesses, which are particularly affected by the pandemic crisis, is a priority for BSTDB as a regional development bank. Our continued cooperation with Europlan, a leading leasing company with the largest number of SME clients in Russia, effectively contributes to the development of the Russian leasing market creating business opportunities for SMEs and supporting the recovery of this key economic sector in challenging market conditions,“ said Dmitry Pankin, BSTDB President.
“Europlan continues to actively work for its clients, especially for the small and medium-sized businesses. Stable funding helps us to support Russian entrepreneurs, purchase the vehicles they need for their businesses to function efficiently and generate profit even in the current challenging environment,“ said Alexander Mikhaylov, Europlan CEO.
JSC LC Europlan (Europlan)was founded in 1999 by international private equity funds. The company has a leadership position in the fast-growing Russian auto-leasing market with an estimated share of 15%. Europlan operates through 80 offices across Russia and has a portfolio of approx. 100.000 customers. Europlan is rated “BB “by Fitch and “A+” by ACRA, both with stable outlook. Europlan was awarded the annual business award «Best in Russia» as the best leasing company in 2019.
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. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visitwww.bstdb.org.
Press contact:Haroula ChristodoulouPhone: +30 2310 290533E-mail:cchristodoulou@bstdb.orgTwitter: @BSTDB
