The bank has 25,000 SMEs as clients, out of which 2,700 are companies managed or owned by women.
Most of the SMEs in Garanti Bank’s portfolio operate in the sectors of distribution and trade (17%), services (15%), medical & tourism (13%), while 67% of the companies drew financing for investments and 33% for working capital.
The volume of loans granted to SMEs controlled by women rose 41% per year in the last four years.
The average value of a loan for SMEs is EUR90,000 (EUR92,000 for SMEs owned by women).
The International Finance Corporation as recently approved a EUR35 million loan to Garanti Bank Romania to help finance the country’s small and medium businesses, with EUR20 million for on-lending to companies owned or managed by women.
Romania is home to more than 400,000 women entrepreneurs, representing 36% of shareholders and associates in local firms, most of them in Iasi, Prahova, Arges and Constanta.
Garanti Bank is part of Garanti Romania group, owned by Turkyie Garanti Bankasi (TGB).