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Garanti Bank will be granted by IFC a loan amounting to EUR 35 million to finance SMEs, out of which EUR 20 million dedicated to women entrepreneurs

Bucharest, June 16th, 2014 - Garanti Bank, one of the most dynamic and innovative banks on the local market, will be granted a new loan of EUR 35 million by IFC, member of the World Bank Group, with the purpose of financing Romanian small and medium businesses. Out of the total amount, EUR 20 million will be dedicated for the on-lending to companies owned or managed by women.   

Garanti Bank has an ongoing strategy to support the local economy and companies having women as shareholders or in the top management structures. Currently, statistics show that in Romania there are close to 415,000 women entrepreneurs, representing over 36% of shareholders and associates in local firms.

This is the second loan granted to Garanti Bank Romania by IFC with the purpose of financing local SMEs. In February 2012, the two financial institutions signed the first loan, through which Garanti Bank allocated EUR 22.5 million in funding SMEs, most of them led by women. In less than a year, the entire amount was granted to small and medium enterprises for investments and for working capital to more than 160 companies active mainly in the commerce sector. Some of them operate in the textile industry and constructions sectors, while others do business in tourism and services.

"SMEs could be considered the engine of the Romanian economy, and the companies from this important segment need to be encouraged, in order to reach their potential and be successful. Garanti Bank is a long-time supporter of entrepreneurs, with a focus on women-led SMEs. For the past four years, we have been helping them increase competitiveness, develop and overcome the obstacles that they face in the current challenging economic environment. Through this new loan agreement with IFC we are showing our commitment to continue to believe in the small and medium enterprises and to improve their access to finance, thus also contributing to the local economic growth", stated Ufuk Tandogan, CEO Garanti Bank Romania.

"Strengthening women’s participation in the Romanian private sector both empowers them and harnesses untapped potential for advancing development", said K. Aftab Ahmed, IFC Director for Financial Institutions and Private Equity Group. "Our partnership with Garanti Bank in Romania ensures that smaller companies and women entrepreneurs will continue to have access to funds needed for their growth".   

Garanti Bank has a portfolio of 25,000 SME clients. In the first quarter 2014, the SME segment had the highest increase in respect to both loans (21.8%), as well as deposits (96.7%), compared to the same period last year. Some key projects of the bank in this segment (investments and working capital) were in production & export (spare parts manufacturers), medical field (clinic and pharmacies), agriculture (milk or meat farms) and construction (office buildings & residential).

About Garanti Bank Romania

Garanti Bank Romania is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing (the brand under which the company Motoractive IFN SA operates) and Garanti Consumer Loans (the brand under which Ralfi IFN operates).

Garanti Bank is a universal bank held by Turkiye Garanti Bankasi AS (TGB), the most profitable and the second largest private bank in Turkey by assets. Turkiye Garanti Bankasi is found in the top 20 strongest banks in the world, according to the rankings compiled in May of 2013 by Bloomberg, one of the most prestigious business and economic news agency worldwide.

Garanti Bank offers a range of quality products and services for all segments of business: retail, SME and corporate, and is one of the most dynamic and innovative banks in the local market. Present in Romania since 1998, the bank has developed a solid portfolio of clients and expanded its national presence through branches and alternative channels, reaching an extensive network of 287 intelligent ATMs that can be used by anyone, not just bank customers, for transactions with or without credit cards. For more information please access


About IFC

IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit



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