Garanti BBVA Romania obtains a subordinated loan of EUR 10 million from the Black Sea Trade and Development Bank (BSTDB). With a maturity of seven years, this financing will be used for the general corporate purposes of Garanti BBVA Romania, including expanding its loan portfolio to the local business environment.
This new loan agreement continues the partnership initiated in 2014 between Garanti BBVA Group and BSTDB, through which the international financial institution has provided significant funding to the entities belonging to the Group, with total loans of approximately 100 million euros.
“We are delighted to enhance our partnership with BSTDB through this significant loan and deeply appreciate their ongoing support for our bank and the entire Garanti BBVA Group Romania. This financial assistance is crucial for enhancing Garanti BBVA’s capacity to aid the local business environment. The funds allow us to expand our lending capabilities, underscoring our shared commitment to financial stability and long-term development in the country, ensuring that we contribute positively to Romania’s economic landscape,” said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.
This loan will enable the bank to further complying with EU and Romanian banking regulations by further sustaining the bank’s sound capital adequacy and diversifying its funding sources. The expected positive ripple effect throughout the Romanian economy includes increased tax revenues, enhanced employment opportunities, and boosted export capacity and competitiveness.
“This loan represents another significant step in our enduring partnership with Garanti BBVA Romania and the wider Garanti BBVA Group,” said Dr. Serhat Köksal, President of BSTDB. “It is a testament to our commitment to long-term partnerships that support cross-border cooperation. We are dedicated to promoting financial stability and supporting the long-term growth of our partners in the region. This new funding will equip Garanti BBVA Romania with the necessary resources to continue their valuable work in the Romanian market.”
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