Santander group applies to EIB for guarantees for EUR 503 mln SME loans

The companies of listed lender's Santander group have applied to the European Investment Bank (EIB) for guarantees for small and medium-sized enterprises loans of EUR 503 million, the EIB said in a statement.

The proposal concerns Santander Bank Polska, Santander Consumer Bank and Santander Leasing.

"The project concerns a guarantee covering an existing portfolio of loans and leases to small and medium-sized enterprises and mid-cap companies in Poland," EIB reported.

"The aim is to increase access to finance for the final beneficiaries," it added.

The proposed EIB financing (approximate amount) is EUR 503 million and the total cost is EUR 1,128 million.

map/ ao/