Banca Tiriac grows with Dutch money

Banca Tiriac has signed an agreement for opening a 10 million-euro long-term line of credit with The Netherlands Development Finance Company (FMO). The Romanian bank will use the funding to support the increase in the volume of the real estate credits granted to its clients. FMO is one of the leading European investment banks that focuses on funding the private sector in the developing countries and is rated AAA by Standard & Poor’s. “The Romanian real estate credit market has seen significant development lately, but we feel there is an important development potential on this segment still. Banca Tiriac has recently launched Creditul Acasa (Home Credit), concentrating on providing a lending product that meets the market requirements and promptly answers the demands of the clients(..)” George Mucibabici, Banca Tiriac president said. ZF