Romanian top lender Banca Transilvania signs EUR 400 mln synthetic securitization with EIB
The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), has approved a synthetic securitization and new lending commitments for Banca Transilvania – Romania's…
iulian ernst · Journalist
· Updated · 1 min read
The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), has approved a synthetic securitization and new lending commitments for Banca Transilvania – Romania's biggest lender.
The landmark transaction is Banca Transilvania's first securitization transaction. The agreement provides capital relief for BT for a portfolio of micro, SME, and corporate loans with a total outstanding balance exceeding RON 2 billion (EUR 400 mln).
The transaction is agreed alongside a commitment by Banca Transilvania to provide new financing of RON 2.64 billion (EUR 530 mln) to SMEs with an emphasis on environmentally sustainable projects.
"I am glad to see our collaboration with the EIB Group continue with this new project where we accelerate the access to finance for local SMEs, which are one of the pillars of the Romanian economy," said Banca Transilvania CEO Ömer Tetik.
"Along with consolidating the financing capacity, the EIB has always brought to the table expertise and best practices, abilities that help us to an even better managing of our capital."
(Photo source: the company)
