Paris, November 15th 2005 - Following the participation taken by BNP Paribas in the TEB Mali holding company, BNP Paribas subsidiary, BNP Paribas Lease Group (BPLG), and TEB Bank subsidiary, TEB Leasing, have signed a commercial cooperation agreement.
The signing of this cooperation agreement will enable BPLG to broaden its geographical coverage and its leasing offer throughout Turkey, where the leasing market has been growing by an annual 25% since 2001. The agreement is an integral part of BPLG's external development strategy and complements its existing agreements in Denmark, Norway, the Czech Republic, Sweden and Switzerland.
In turn, TEB Leasing, an active player on the Turkish market for financing professional equipment, will benefit from BPLG's geographical coverage – BPLG is well established throughout Europe – its infrastructure and the fact that it is part of the BNP Paribas group, three precious assets for the development of TEB Leasing's customers in Europe.
Like BPLG, in marketing its products and services, TEB Leasing relies both on equipment vendors and on the network of branches and offices of TEB Bank, its parent company.BPLG – background PLBPLG – background
BNP Paribas Lease Group (BPLG) is a BNP Paribas subsidiary specialized in financing investments made by companies and professionals. In the business for over 50 years, and French and European market leader, BPLG offers equipment manufacturers, importers and vendors a comprehensive service in the financing of their sales and financial management of their networks. With them, BPLG develops local, national or international partnerships that range from advisory agreements to joint financing companies.
For the BNP Paribas banking network, BPLG also handles the business volume and management of financing capital goods and property for BNP Paribas customers.
BPLG is present in 11 European countries: Austria, Belgium, France, Germany, Hungary, Italy, Netherlands, Poland, Portugal, Spain and the UK. TEB Leasing – background
TEB (Türk Ekonomi Bankasi) is Turkey's tenth largest private bank in terms of assets and one of the Turkish banks the most highly rated by international rating agencies. TEB is a banking group, known the world over for the quality and liquidity of its assets.
TEB's subsidiary, TEB Leasing, is a key player on the market for professional equipment financing. In Turkey, it covers the entire market for capital goods and also provides some real estate financing. Its market share of around 4% ranks it eighth among Turkish leasing companies. TEB Leasing has two locations in Turkey: Bursa (since July) and Izmir (since September). It offers numerous financial services, including transactions in the local currencies (TL) or in the strongest currency (the € or the $), fixed and variable interest rates, and financing terms ranging from 12 to 60 months. TEB Leasing's product range is largely intended for a clientele of small or medium-sized export companies. Its new business volume in 2004 reached $124 million.