Credit for European SMEs: the EIB and Deutsche Leasing sign a EUR 100m contract
- Release date: 11 March 2013
- Reference: 2013-030-EN
The European Investment Bank (EIB) and Deutsche Leasing AG have signed a EUR 100m development finance agreement. The loan may be deployed over the next five years to support Deutsche Leasing AG’s international business in Europe. The target customers are small and medium-sized enterprises (SMEs) and mid-caps, i.e. companies with less than 3 000 employees that are expected to use the funds for the benefit of their long-term capital projects.
As the promotional bank of the European Union, the EIB places particular emphasis on support for SMEs since they account for 80 per cent of new jobs in the EU. Given the large number of SMEs in Europe, the Bank works closely together with intermediary institutions in this area. This is the first time that Deutsche Leasing AG will act as an EIB financing partner. The company, which belongs to the Sparkassen financial group, operates in the SME and mid-cap sectors in 19 European countries. As Europe’s fifth largest leasing company, Deutsche Leasing enjoys a strong position in both its home market of Germany and in Europe.
At the signing of the contract, EIB Vice-President Wilhelm Molterer, whose responsibilities include financing operations in Germany, stated, “Deutsche Leasing is a well-established SME and mid-cap financing expert with outstanding knowledge of the European market as a whole, making it an ideal partner for the EIB. This agreement further expands our lending base for SMEs, the main driver of growth and employment in Europe”.
Deutsche Leasing AG was also highly pleased with the conclusion of the contract: “This agreement now provides our customers with access to highly attractive financing throughout Europe,” said Kai Ostermann, CEO of Deutsche Leasing. “It enables us deliver optimum support to German SMEs for their investments beyond Germany’s borders.”