News

BSTDB Concludes the 19th Annual Meeting of the Board of Governors


Date: 02-Jul-2017

<!--<p> </p>--> The Board of Governors of the Black Sea Trade and Development Bank (BSTDB) held its 19th Annual Meeting of the Board of Governors 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.

 

Watch interviews from the annual meeting