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ING Turkey to extend loans to Istanbul textile exporters
06 Aug '12
1 min read
Pursuant to a deal inked with Istanbul Textile and Apparel Exporters Association, ING Groep NV, ING’s Turkish banking unit, has accepted to provide US$ 500 million in loan to over 9,000 members of the association.
Besides financial support, ING Turkey would also provide consulting services to member firms of the Istanbul-based association with regards to their overseas investment and to ease their trade with overseas firms.
ING Turkey, which is quite optimistic on the side of supporting exports, intends to establish itself as the Turkish bank providing maximum support to firms involved in overseas trade.
Eyeing a 30 percent growth in loans for small and medium-sized businesses and commercial banking in 2012, ING Turkey sees 55 percent of this growth coming from lending to exporters.
Moreover, ING Bank Turkey also looks forward to grow its profits by three-fold this year.
Fibre2fashion News Desk - India
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