Asset finance company Garanti Leasing, a subsidiary of financial group Garanti Romania, has announced an agreement with the Black Sea Trade and Development Bank (BSTDB) for a loan of 7.5m destined for investment in SMEs.
Garanti Romania is a part of Turkish bank Garanti.
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Garanti Leasing has been active in the asset finance sector since 1990, and the company’s client’s hail from several sectors, including transportation, logistics, healthcare, agriculture, construction and heavy industry.
Okan Yurtsever, general manager Garanti Leasing, said: "We started focusing on the corporate and SME segments three years ago, responding to our clients’ financing needs.
"The small and medium-sized companies represent a priority for the Romanian economy and need diversified sources of financing to provide for business growth."
Since its first leasing facility extension in the Black Sea region in 2003, BSTDB has signed 16 leasing operations in Bulgaria, Georgia, Moldova, Romania, Russia, and Turkey, totalling over 110m.
