BRD To Grant EUR 20 Million Worth Interest Subsidized Loans to SMEs, By Partnership With European Investment Fund, In The Framework Of JEREMIE Initiative

Newsroom
Subsidiaries and associated entities
CSR
Investors and shareholders
Careers
Small entrepreneur
Cards and accounts
Currency and monetary market
Capital markets
Research Reports
Custody, storage, issuers
SME^{< 1M Euro}
Loans
SME^{1-50M Euro}
Savings and investments
Agriculture
Corporate
Online banking

19 Jan 2014

BRD Groupe Societe Generale closed a new partnership with the European Investment Fund (EIF), by means of which the bank extends its SME product range. This is the second agreement between BRD and the European Investment Fund, after the one concluded in 2004, regarding the guaranteeing for investment loans for SMEs.

JEREMIE initiative (Joint European Resources for Micro to Medium Enterprises), launched by the European Commission in partnership with the European Investment Fund, allows Member States and Regions in the European Union dedicate national and structural funds resources to create financial instruments for SMEs. In Romania, JEREMIE initiative is financed through the Sectoral Operational Program „Increase of Economic Competitiveness”, co-financed by the European Regional Development Fund.

In 2014, BRD Groupe Societe Generale will make available to SMEs interested by the new JEREMIE instrument financing (investment loans and working capital loans) of EUR 20 million, at a partially subsidized interest (50% less than the standard level) and reduced guarantees.

“We are aware of how important SMEs are to the economy and this is why we want to offer adapted and accessible financing products, as well as our entire expertise to SMEs willing to develop their businesses”, said Bogdan Spuza, Executive Director of Marketing and Product Management Department of BRD.

An active supporter of Romanian SME’s, BRD Groupe Societe Generale offers loans to this category of customers also through traditional partnerships closed with prestigious European financial institutions like the European Bank for Reconstruction and Development and the European Investment Bank in the framework of financing programs destined mainly to SMEs financing. The total volume of loans granted by BRD in the framework of these partnerships is of approx. EUR 600 million, out of which approx. EUR 500 million were granted to SMEs.

BRD-Groupe Société Générale is the second bank in Romania considering the total assets’ volume and the first one in terms of major corporate clients and syndicated facilities at mid 2013. BRD - Groupe Société Générale has 2.3 million customers and operates a network of approximately 900 units. With over 2.3 million valid cards and a network acceptance over 21,600 POS, and 1,500 ATMs, BRD is no. 1 on the Romanian card market. With factoring operations exceeding EUR 1 billion in 2012, BRD is the leader of the factoring market.

BRD is part of the Société Générale Group, one of the largest European financial services groups. The group has 154,000 employees in 76 countries and 32 million customers worldwide in its three key activities:

Retail banking in France

International retail banking, financial services and insurance

Corporate & Investment banking, private banking, asset management and investor services

Search form

BRD To Grant EUR 20 Million Worth Interest Subsidized Loans to SMEs, By Partnership With European Investment Fund, In The Framework Of JEREMIE Initiative