Garanti Facility

completed

The proposed project consists of a senior loan of up to EUR80 million to existing IFC client, Garanti Bank S.A., Romania (“the Bank”). The purpose of the loan is on lending to small and medium enterprises, of which half to be on-lent to Women-Controlled SMEs (“the Project”). The proposed investment is consistent with IFC’s strategy in Romania and would help a good existing IFC client to expand its SME reach with focus on women owned businesses and, in parallel with project #40788 with Garanti Leasing Romania, would further strengthen the relationship with Garanti group.  Garanti Bank is a universal bank, with a market share as at December 31, 2016 of 2.3% in terms of total assets, ranking 10th out of the 37 banks operating in Romania. In 2007, Garanti Bank Turkey and GE, shareholders of Garanti NV, decided to increase their presence in Romania through a direct subsidiary instead of a branch and positioned it to become a full-fledged bank focusing on retail and SME markets. The new bank license was authorized by the National Bank of Romania in 2009 and the Bank became operational at the end of May 2010.