BSBTD allocates first loan for development of leasing operations in Turkey

Photo: BSBTD allocates first loan for development of leasing operations in Turkey / Economy news

Baku, Azerbaijan, Jan.8

By Abbas Akhundov - Trend:

The Black Sea Trade and Development Bank (BSTDB) will allocate a 30 million euro worth loan to Turkish leasing company Iş Leasing Turkey.

The five-year loan will allow Iş Leasing Turkey to cover its needs in medium term funding related to medium and small entrepreneurship, as well as the needs of local businesses in long term financing, a message of the bank said on Jan.8.

Since its operation, BSBTD financed 15 leasing operations in Bulgaria, Georgia, Moldova, Romania and Russia totalling 72 million euros. Taking into account the last loan, the portfolio will increase to 102 million euros.

This loan is the first operation of its kind for the bank on the Turkish leasing market.

Today, Greece, Russia and Turkey remain the largest shareholders of the bank with stakes of 16.5 percent each. Romania owns 14 percent, Bulgaria and Ukraine 13.5 percent each, Azerbaijan with five percent, Albania two percent, Armenia and Moldova one percent each and Georgia 0.5 percent.

A manager at the Black Sea Bank from Azerbaijan is the Minister of Economy and Industry Shahin Mustafayev and his deputy is Finance Minister Samir Sharifov.

Translated by L.Z.

Edited by S.M.

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