Banca Transilvania borrows €102.5 mln to sustain lending

“A tranche of €30 million will be offered by the International Finance Corporation, with the remaining €72.5 million in the form of a syndicated loan from international banks. In the context of recent international market events, this major transaction demonstrates that Banca Transilvania has powerful business partners and continues to have access to resources to sustain Romanian entrepreneurs, SMEs, and mortgages,” according to a declaration for Business Standard by Robert C. Rekkers, General Manager of BT.

The international financial crisis has determined banking system players, including Romanian ones, to focus on prudence and solidity of banks, so that some bankers have become more restrictive in terms of lending. Banca Transilvania will focus on granting lei-denominated loans.

The domestic capital lender posted a net profit of RON 396.6 million (€109 mln), for the first nine months, triple that of the same period in 2007, with the result sustained also by the sale of the bank’s participation in the Asiban insurer.