Press Releases

BSTDB extends a multi-purpose loan to Banca Sociala


Chisinau, 17-May-2010

 

The Black Sea Trade and Development Bank made available a USD 8 million loan to the Moldovan Banca Sociala to finance the latter’s business development and subsequently benefit its corporate, SME and retail clientele through provision of quality financial services.

 

“We are very glad that our loan will address the financing needs in Moldova, especially in challenging times of financial crisis and limited funding possibilities” said Andrey Kondakov, BSTDB Vice-President Banking signing the project.

 

The new loan builds up on Banca Sociala’s successful track record, following an earlier BSTDB financing of EUR 4 million in 2007.

 

Since the commencement of the BSTDB’s activity in the Black Sea region, the total amount of signed operations in Moldova amounts to USD 35 million.

 

* * * * * * * * * *

 

Banca Sociala was established in 1991, and five years later it was granted a full banking from the National Bank of Moldova covering the entire range of banking activities. Being the successor to Moldova’s former state owned Zhilsots Bank, (Bank for Construction and Social Programmes), Banca Sociala is nowadays 100% private-owned with a network of 20 branches and 46 sub-branches throughout the country. It serves customers, both private and corporate from the entire range of Moldova's economy.

 

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The recently increased authorized capital of the Bank is SDR 3 billion (approx. USD 4,85 billion). BSTDB is rated Long Term Baa1 with positive outlook and Short Term P2 by Moody’s.

 

 

Press Contact

Haroula Christodoulou

Tel: +30 2310 290533

Email: cchristodoulou@bstdb.org