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NEWS Last modified on March 19, 2015

Bancpost agrees to €2 million loan for Timisoara International Airport

Romanian bank Bancpost has signed an agreement with Timisoara International Airport to loan it €2 million to cover its expansion costs for the next a three years.

The gateway – Romania’s third busiest in terms of air traffic movements – needs the cash injection to help finance its expansion plans.

Bancpost, which will issue the grant through its corporate banking division, says it won the finance tender organised by Timisoara International Airport because of its flexible financing, both in terms of length and structure of guarantees and price. 

It adds that its offers also included a high degree of adaptability and customisation.

Vlad Micu, Bancpost’s executive director of corporate banking, says the deal confirms his company’s commitment to support key sectors of Romanian economy, such as transport, infrastructure, agribusiness, IT, telecom, manufacturing and exporting.

“Companies operating in these industries generate added value and have a high potential for development,” he says.

“Bancpost is available and has the means to actively participate in their development by covering the diverse needs of financial and banking products.”

The airport’s director general, Julian Daniel Idolu, remarks: "Partnering with Bancpost will support the current activity of the airport for the next three years, a period in which we set ambitious goals such as diversification contracts with airlines, increasing the number of passengers, opening new routes and infrastructure investments. 

“This year we plan to develop an intermodal freight transport and expand our cargo warehouse. The new line in funding will ensure business continuity, cost optimisation and a focus on implementing a new development strategy to successfully achieve our objectives.”

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