The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan EUR 20 million (USD 23 million) to Romania’s Banca Transilvania (BT) Leasing to finance micro-, small and medium-sized enterprises (MSMEs). Including this transaction, EBRD has disbursed four loans to the organization, totaling EUR 45 million (USD 51 million).

BT Leasing, which financed assets totaling EUR 41 million (USD 47 million) from January to April 2017, is 100-percent held by BT, a privately-owned bank that was established in Romania in 1994. BT has four divisions: retail, small and medium-sized enterprises (SMEs), corporate, and medical. In 2016, it reported total assets of RON 52 billion (USD 13 billion) and a net profit of RON 1.3 billion (USD 326 million) as well as a staff of 7,800. BT is the primary member of the BT Financial Group, which offers financial services including leasing, securities and asset management.

EBRD was founded in 1991 and has 65 countries as shareholders. With a focus on “the promotion of private and entrepreneurial initiative,” EBRD invested EUR 9.4 billion (USD 10.1 billion) in companies in 30 countries during 2016.

By Sascha Strobl, Research Associate

Sources and Additional Resources:

EBRD press release:
http://www.ebrd.com/news/2017/bt-leasing-receives-20-million-ebrd-loan.html

EBRD home page:
http://www.ebrd.com/home

Banca Transilvania Leasing:
http://btleasing.ro

MICROCAPITAL BRIEF: European Bank for Reconstruction and Development Loans $13.2m to BT Leasing Transilvania of Romania
https://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-loans-13-2m-to-bt-leasing-transilvania-of-romania/

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.

Share

Source link Original

Leave a Comment

×