According to IFC website, Motoractive IFN S.A. is the eighth largest leasing company in Romania with an estimated market share of 4.6 percent as at December 2016. The proposed project is a senior loan of up to EUR5.5 million to Garanti Leasing, for on-lending to women-controlled small and medium enterprises (SMEs). 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, moreover, it would strengthen the relationship with Garanti group.
The main objectives of the project are to (i) help respond to the critical term funding gap for SMEs as Garanti Leasing's customer base is predominantly SME's; (ii) alleviate the difficulty of SMEs in accessing bank financing by using asset-secured lease finance; and, (iii) generate employment through resultant growth of SMEs and investment in productive assets, with a focus on women owned SMEs.
Garanti Leasing is 100% owned by Turkyie Garanti Bankasi A.S., the second largest bank in Turkey, through two holding companies based in the Kingdom of the Netherlands: G Netherlands B.V., with (99.99997%) shareholding and Garanti Holding B.V. (0.00003%). In turn, Turkyie Garanti Bankasi A.S. is controlled by two entities: Banco Vizcaya Argentina (BBVA), the second largest bank in Kingdom of Spain with global operations, which has a share of 39.9% and Dogus Holding, a Turkish holding group, with a 10.0% stake.
Motoractive IFN S.A. is the eighth largest leasing company in Romania with an estimated market share of 4.6 percent as at December 2016. It was established as Motoractive IFN S.A. in 1998 and in 2006 was acquired by GE Money. Turkiye Garanti Bankasi became the largest indirect shareholder of the Company in 2010, and rebranded it to Garanti Leasing Romania in 2011. Garanti Leasing employs 72 fulltime staff in Romania and has eight offices in the country.
Project Contact: Carmen Giosanu
Customer Service and Billing Department Manager, Garanti Leasing
Telephone No.: +40 (21) 387 87 00
Email Address: Carmen.Giosanu@garanti.ro
Office Address: 5 Fabrica de Glucoza Street - Novo Parc 3, Building F - 020331 Bucharest
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