Press Releases

Update on Semi-Annual Accounts and Accounting Standards


Black Sea Trade and Development Bank (the “Bank”), today announces that its board of directors at its regular meeting on the 22nd of September, decided that from now on the Bank will produce audited financial statements for the full year only.

Discontinuing the production of audited semi-annual financial statements will align the Bank with the practice of many peer institutions, while continuing to fully satisfy the relevant rules of the stock exchanges where its debt securities are listed.

An updating supplement to this effect will shortly be submitted to the Irish Stock Exchange in respect of the Bank’s Euro Medium Term Note Programme Offering Circular, dated 31st May 2017.

The decision to discontinue production of audited semi-annual financial statements was taken in the context of the Bank’s intention to effect early adoption of the new IFRS 9 for the Bank’s 2017 full year financial statements.

The Bank’s condensed Interim Financial Statements for the six-month period ended on the 30th of June 2017, prepared in accordance with IFRS-IAS 34 "Interim Financial Reporting" together with the related Auditors' Review Report, can be found at the following link:

Christopher Best
Tel: +30 2310 290456

This announcement has been issued through the Companies Information Service
of the Irish Stock Exchange