BAKU, Azerbaijan, May 29. The Black Sea Trade and Development Bank (BSTDB) has announced a 7-year subordinated loan of 10 million euros to Garanti BBVA Romania (GBR), Trend reports via the Bank.
The funds will be used for GBR's general corporate purposes and to expand its loan portfolio to support local businesses. This move aims to sustain GBR's capital adequacy, diversify its funding sources, and ensure compliance with EU and Romanian banking regulations. Additionally, the loan will enhance cross-border cooperation and economic ties between BSTDB Member States Romania and Türkiye.
The loan is anticipated to have a positive impact on the Romanian economy by generating tax revenue, increasing employment, boosting export capacity, and enhancing competitiveness.
This agreement reinforces BSTDB's commitment to supporting Garanti BBVA Romania's growth and financial stability in the region.
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 valued partner of BSTDB for over a decade. The partnership began in 2014 with a EUR 7.5 million loan to Garanti BBVA Leasing, marking the first-ever loan by an international financial institution (IFI) to the Group. Since then, BSTDB has consistently supported the Group's growth. 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. Also in 2017, BSTDB extended a EUR 7 million energy efficiency facility to Garanti BBVA Consumer Finance for residential properties. The most recent transaction with Garanti BBVA Group was a EUR 40 million loan in 2021, aimed at strengthening SME resilience and supporting post-pandemic recovery in Romania.
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