BRD grants 24 million RON loan for Finance Savini

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BRD GRANTS A RON 24 M LOAN TO FINANCE SAVINI DUE INVESTMENTS

28 Apr 2020

BRD Groupe Societe Generale and the Sebeș based Savini Due signed a credit agreement worth RON 24 million. The sum will finance the implementation of the company’s project aimed at growing production capacities, in order to boost both exports and internal sales, and at completely automating the preparatory and final phases of production activities. The main objective of the project is to build and equip two new and modern production halls. In order to implement the investment, which exceeds RON 48 million, Savini group used its own sources, as well as a RON 24 million loan granted by BRD.

"Savini Due is a benchmark in the furniture industry and one of our longest standing clients. We are proud to have accompanied, since the very establishment of this company in Romania, its constant development. BRD is honoured by this company’s trust and we thank them for helping us make our purpose real: building together a better and sustainable future through responsible and innovative financial solutions. Financing the development of the Romanian economy is a reflection of our purpose as a bank. We are open for business and ready to support Romanian companies throughout this complicated period”, said Yves Lallemand, BRD’s Deputy CEO in charge with Corporate Banking.

„BRD was the first bank that decided to finance me when I founded the company. It was a personal and professional pride for me to know that someone believes in my project. I don't know if BRD immediately believed that the project would become so big, but then I realized that BRD would have been close to my company in building its future. Today I say that when the partnership between two economic entities is serious and transparent, the results will be extraordinary for both: we must believe it”, said Piersante Savini, the majority shareholder and founder of Savini Due.

SaviniDue is one of the leading manufacturers of bathroom furniture in Europe. Established in 2003, the company has undergone a constant evolution ever since, marked by successful projects and investments.

BRD is a top player in the credit market granted to local and multinational companies and the number 1 player in the competitive Romanian factoring market.

BRD - Groupe Société Générale is the third largest Romanian bank by assets and the fifth largest capitalization on the Bucharest Stock Exchange. With a network of over 648 units, BRD has a top position on the Romanian card market, with approximately 2.4 million cards and an acceptance network of approximately 29,000 POSs and almost 1,500 ATMs. The total assets of the bank were, at the end of December 2019, of RON 55.9 billion.

BRD is part of the Société Générale Group, one of the largest European financial services groups. The group has 149,000 employees in 67 countries and 31 million customers worldwide in its three complementary core businesses:
•   French Retail Banking
•   International Retail Banking, Insurance and Financial Services to Corporates
•   Global Banking and Investor solutions.
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BRD GRANTS A RON 24 M LOAN TO FINANCE SAVINI DUE INVESTMENTS