The European Bank for Reconstruction and Development (EBRD), a London-based development finance institution, recently loaned EUR 10 million (USD 13.2 million) to BT Leasing Transilvania, a subsidiary of Banca Transilvania (BT), a privately-owned Romanian bank. BT Leasing Transilvania plans to use the loan to expand its lending to small and medium-sized enterprises (SMEs). Further information on the transaction has not been released.
While financial information for BT Leasing Transilvania IFN is unavailable, Banca Transilvania reported total assets of USD 6.5 billion as of 2010. In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).
By Charlotte Newman, Research Associate
About Banca Transilvania
Banca Transilvania is a privately-owned bank in Romania that was established in 1994. Banca Transilvania is the leading member of the Banca Transilvania Financial Group, which offers financial services including leasing, securities and asset management. The bank itself has four divisions: retail, small and medium-sized enterprises (SMEs), corporate and medical. It has approximately 6,000 employees and 400 branches and agencies across the country. In 2010, Banca Transilvania reported total assets of USD 6.5 billion.
About European Bank for Reconstruction and Development
The European Bank for Reconstruction and Development (EBRD) is a development finance institution headquartered in London. The bank began operations in 1991 upon the agreement of 40 countries and is now owned by 61 countries as well as the European Investment Bank and the European Union. It aims to finance operations that are both commercially viable and assist development in 29 countries in Eastern Europe, Central Asia and more recently in Southern and Eastern Mediterranean region. It does this by providing loans, debt securities, equity investments, guarantees and technical assistance to micro- and small businesses via commercial banks and non-bank microfinance institutions (MFIs). In 2011, EBRD disbursed a total of EUR 6.7 billion (USD 8.3 billion).
Sources and Additional Resources:
Information sent to MicroCapital from the European Bank for Reconstruction and Development: “EBRD Supports SME Leasing in Romania,” http://www.ebrd.com/english/pages/news/press/2012/121218b.shtml
MicroCapital.org story, November 14, 2012, “MICROCAPITAL BRIEF: European Bank for Reconstruction and Development (EBRD) Lends $70m to Garanti Bank of Turkey, Hipotekarna Bank of Montenegro, Bai Tushum of Kyrgyz Republic,” http://www.microcapital.org/microcapital-brief-european-bank-for-reconstruction-and-development-ebrd-lends-70m-to-garanti-bank-of-turkey-hipotekarna-banka-of-montenegro-bai-tushum-of-kyrgyz-republic-2/
MicroCapital.org story, October 14, 2012, “MICROCAPITAL BRIEF: MF Banka Receives $5.2m from European Bank of Reconstruction and Development for Small Businesses in Bosnia, Herzegovina,” http://www.microcapital.org/microcapital-brief-mf-banka-receives-5-2m-from-european-bank-of-reconstruction-and-development-for-small-businesses-in-bosnia-herzgovina/
MicroCapital Universe Profile: Banca Transilvania
MicroCapital Universe Profile: European Bank for Reconstruction and Development
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