This is the second partnership concluded between Garanti Leasing and the EFSE. The two institutions had previously signed a EUR7 million funding agreement in 2014, which aimed to encourage and develop micro and small enterprises.
Garanti Leasing granted new financing worth over EUR63 million and concluded over 1,000 new contracts between January and September 2017. In the first nine months of 2017, financing targeted vehicles (50%), equipment (22%) and real estate (28%).
Garanti Leasing (the brand under which the company Motoractive IFN SA operates) has been part of financial-banking group Garanti Romania since 2010. Since its inception, the company has disbursed over EUR900 million for assets under finance leases and signed over 53,000 leasing contracts.
Garanti Romania group also includes Garanti Bank and Garanti Credite de Consum (the brand under which Ralfi IFN operates). Garanti Romania Group is held by Turkiye Garanti Bankasi AS (TGB), Turkey’s second largest private bank. Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of TGB.
The European Fund for Southeast Europe (EFSE) provides sustainable funding to micro and small enterprises helping them to grow, generate additional income and to create employment, as well as to low-income families assisting them in the improvement of their housing conditions.