BSTDB Holds Annual Meeting Events in Chisinau

Date:  04-Jul-2017
Venue:  ChisinauMoldova

On 2 July 2017, The Board of Governors of the Black Sea Trade and Development Bank (BSTDB) held its 19th Annual Meeting in Chisinau, under the Chairmanship of Octavian Armasu, Minister of Finance of the Republic of Moldova.


The Board of Governors approved the BSTDB Annual Report and Financial Statements for 2016. The Bank posted a net profit for the twelfth consecutive year. The Board of Directors approved 20 new operations for over EUR 433 million.  The outstanding portfolio grew to EUR 1,2 billion, a 7% increase over 2015. Disbursements surged by nearly 20% over the year to exceed EUR 443 million.


The Board elected the Governor for the Russian Federation as Chairman of the Board of Governors. The Governors for Romania and the Republic of Turkey were elected as Deputy Chairmen, for a period of one year until the next BSTDB Annual Meeting decided to take place in Russia in 2018.


On 3 July 2017, BSTDB held a regional Business Forum titled “Moldova: Working Together to Support Growth” under the auspices of the Moldovan Government and in close cooperation with the Ministry of Finance and the Chamber of Commerce and Industry and the European Business Association of the Republic of Moldova. 


The event gathered nearly 300 business participants from Moldova and other countries of the Black Sea region.


At the Forum, economic policy makers, business leaders and representatives of development financial institutions exchanged views on best practices that may support increased investments and sustainable growth in the country with a particular focus on banking sector reforms and access to capital for businesses. The Forum offered a good opportunity to present Moldova’s investment priorities and opportunities to the international financial and development community. 


BSTDB used the event to promote its business contacts with Moldovan banks and companies, with over 40 bilateral meetings held by BSTDB bankers with interested participants.


BSTDB signed Memorandums of Understanding with the National Bank of Moldova to facilitate access to international expertize and technical assistance in the banking sector, and with the Chamber of Commerce and Industry to improve Bank’s outreach and the awareness of its products and services with the Moldovan business community, especially outside the capital.