Banca Transilvania gets EUR 75 mln loan from the EIB

Banca Transilvania, Romania’s third-largest bank, has received a EUR 75 million loan from the European Investment Bank (EIB). The loan is aimed at financing projects promoted by small and medium-sized enterprises (SMEs), midcap companies and public entities in the areas of industry, services, agriculture, and infrastructure in Romania. This is the second tranche of a EUR 150 million loan agreement that Banca Transilvania and the EIB signed in 2014. The first tranche of the loan, received in October 2014, has been successfully allocated towards improving the access of SMEs, midcap companies, and public entities to financing. The loan is designed to support the employment of young people, a key priority for the EIB, in the framework of the EIB’s “Skills and Jobs – Investing for Youth” programme. The fight of youth unemployment is a priority task in Romania. The EIB, in cooperation with Banca Transilvania, provides additional incentives to beneficiary companies employing young people, offering training opportunities or cooperating with colleges, schools or universities to improve employment perspectives of young people. Banca Transilvania has positioned itself in the market as “The Bank for Entrepreneurial People”, one of three business lines being particularly dedicated to SME clients. The bank has 1.96 million customers and almost 550 units. Merger between Banca Transilvania and Volksbank Romania finalizes on December 31 EBRD reduces stake in Romania’s Banca Transilvania Romanian Banca Transilvania sees slightly lower profit editor@romania-insider.com