EBRD extends EUR 10mn loan to Romanias Banca Transilvania group.

By bne IntelliNews December 20, 2012
The EBRD said it has extended a EUR 10mn to the leasing arm of Romanian financial group Banca Transilvania - BT Leasing Transilvania IFN S.A. The loan aims to strengthen the financial capacity of BT Leasing and thus be able to support local small and medium-sized enterprises (SMEs), the EBRD said in a statement. The loan will also foster the development of the leasing market in Romania, where limited external funding for non-bank financial institutions has historically led to constraints in supporting SMEs. Earlier in October, the EBRD extended a EUR 30mn loan to Banca Transilvania, also for financing small and medium-sized enterprises. The EBRD is a shareholder in Banca Transilvania (14.6%) along with the Bank of Cyprus (9.6%).

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