Robert Rekkers becomes the Chairman of the Board of Directors, Serhan Hacisuleyman will be appointed General Manager
Agricover, the leader of the agribusiness market in Romania, announces the appointment of Mr. Robert Rekkers (photo) as Chairman of the Board of Directors of Agricover Credit IFN SA and the appointment of Mr. Serhan Hacisuleyman as General Manager of Agricover Credit IFN. The confirmation of the appointments will be finalized pending the due formalities.
Mr. Jabbar Kanani, Chairman of the Board of Directors of Agricover Holding said:
“Fifteen years ago, we took the decision to make financing simple and accessible to all Romanian farmers, convinced that the success of Romanian agriculture is closely linked to investment, technology and sustainable development.
During this period, Romanian farmers have demonstrated the ability to rapidly reduce the productivity gap with the best performing farmers in the European Union and I believe that we, Agricover, have also made an important contribution to this major leap through the innovative business model we have developed precisely to meet the real needs of farmers.
I would like to thank Mr. Rekkers for bringing Agricover Credit IFN to a leading position in agricultural finance. We are happy that we can count on his support going forward to continue building successful strategies.
I warmly welcome Mr Serhan Hacisuleyman to the team, whose international expertise will help us to continue to grow and provide specialised financing to as many farmers as possible, especially small and medium-sized farmers.”
Mr. Robert Rekkers, Chairman of the Board of Agricover Credit IFN said:
“In 2012 with great pleasure I have accepted the challenge to join Agricover and over the years we have succeeded to build a very strong business. With a total financing of more than RON 2.6 billion, Agricover Credit IFN is today one of the leading agricultural financiers and a trusted partner for more than 4500 farmers. This success would not have been possible without the people in the team, whom I would like to thank for believing with me in the enormous potential of Romanian agriculture and in the importance of our involvement to provide farmers with the financing they need in a simple and fast way. I am honored to continue from my new position as Chairman of the Board to help develop the strategy to ensure continued healthy growth.”
Mr. Serhan Hacisuleyman, nominee General Manager Agricover Credit IFN said:
“I am pleased to join Agricover Credit IFN, a benchmark company in agrifinance, as Managing Director. I am impressed by Agricover’s unique business model and I am very determined to contribute to the further development of this valuable/ great business in agricultural financing.”
About Serhan Hacisuleyman
Serhan Hacisuleyman brings 23 years of banking experience in multiple business lines (retail, SME, agri and commercial). The latest positions include the Senior Vice President position for Agricultural Banking in DenizBank (ENBD) and the Executive Vice President position in Deniz Leasing. Mr. Hacisuleyman has a MBA from Sabanci University and also graduated from Leadership & Entrepreneurship Program at MIT.
Agricover is the leader in the Romanian agribusiness market, a generator of innovative solutions that transform agriculture and farmers’ lives for the long term, creating progress and prosperity on a social scale.
Agricover Group has a total business value of more than RON 3.5 billion and serves a total portfolio of 9,200 professional farmer clients, who farm more than 2.6 million hectares of arable land nationwide. At the end of 2021, Agricover Holding subsidiaries employed 470 people.
Agricover Holding SA manages Agricover Distribution SA – specialising in the distribution of agricultural technologies and inputs, Agricover Credit IFN SA – a non-bank financial institution specialising in farmer financing and Agricover Technology SRL through which the Group provides farmers with access to the latest innovations in global digital agriculture.
Agricover Credit IFN recorded outstanding loans and advances as at 31 December 2021 of RON 2.02 billion, 18% higher than at the end of the previous year. Profit before tax recorded an accelerated growth of 35% driven by rigorous cost of risk management and higher net fee income.
Innovative products such as Instant Credit, Diesel Pay on Harvest, Hectare Plus, Advance Forward Credit, Septel Plus Credit, Irrigation Credit were just some of the innovative financing solutions branded Agricover Credit launched by the company year after year and appreciated by farmers. The newest innovation is the launch earlier this year of the Farmer Card – the first business credit card created specifically for farmers, providing them with fast access to financing with payment at harvest and 0% interest on the purchase of agricultural inputs from Agricover’s online store.
The company’s varied product portfolio is aimed at micro and small farmers as well as medium and large farms. The synergy with the Agricover group and the deep understanding of the needs of the farmers and the industry are important assets in building the most suitable financing solutions and efficient risk management.
In order to secure the necessary funds for farmers’ financing, the company has maintained strong partnerships with local banks as well as with established international partners such as the European Bank for Reconstruction and Development, International Finance Corporation, European Investment Bank, European Investment Fund, Black Sea Trade and Development Bank, European Fund for Southeast Europe, ResponsAbility.
The shareholders of Agricover Holding SA are Mr. Jabbar Kanani (87.269%), the European Bank for Reconstruction and Development (EBRD) (12.727%) and the list shareholders. Adama Agriculture B.V., a member of the Syngenta Group, one of the world’s largest producers of plant protection products and certified seeds, holds 10% of the shares in Agricover Distribution SA.