BUSINESS

IFC Invests USD 40 M to support growth of Banca Transilvania

The IFC Capitalization Fund, a fund managed by IFC Asset Management Company, is investing USD 40 million in Banca Transilvania (BT), the third largest bank by assets in Romania. The subordinated loan will strengthen BT’s capital base and support the growth of a systemically important bank in the region focused on small and medium enterprises (SMEs), a press release informs. “(…) BancaTransilvania has incurred great benefits from its long-term relationship with IFC, not only in terms of obtaining financing facilities from a shareholder but also by having access to the vast SME banking and emerging markets know-how of the institution” said Omer Tetik, BT’s Chief Executive Officer. This is the third investment in the region for the IFC Capitalization Fund, and the ninth project overall for IFC with BancaTransilvania.

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