German TRUMPF Bank is set to offer more favourable financing to mechanical engineering companies and other customers in Europe as it has received €50 million loan from the European Investment Bank (EIB).
This is the first EIB financing in the form of a global loan for a corporate bank in Germany. The project contributes to three of the EU bank’s priorities: innovation, climate action, and support for small and medium-sized enterprises.
The loan will help manufacturing companies to purchase highly innovative machines, such as machine tools for cutting, punching and bending, as well as industrial lasers.
TRUMPF customers in Europe will benefit from lower interest rates for conventional loan financing, leasing and hire purchase. TRUMPF Bank has held a full banking licence since 2014 and offers savings accounts and time deposits for employees in Germany. Its equity ratio is more than 25%, well above the industry average.
The EIB supports projects focusing on innovation, skills, climate action and strategic infrastructure, passing on funds to companies through credit institutions such as TRUMPF Bank. The funds will be available to small and medium-sized enterprises (SMEs) with fewer than 250 employees and larger companies with fewer than 3 000 employees.
“By passing the favourable loan terms on to our customers, we will strengthen our competitiveness in the European capital market,” said Sabrina Mebus, Managing Director of TRUMPF Bank.
EIB Vice President Ambroise Fayolle, responsible for operations in Germany, added: “The cooperation with TRUMPF Bank will facilitate access to advanced technology for small and medium-sized companies. Replacement investments can save resources — and this also saves energy.”