BSTDB concludes a USD 20 million loan from Geniki Bank

News | 16-Oct-2009

BSTDB announced that a USD 20 million revolving facility was signed in Thessaloniki with Geniki Bank- Societe Generale Group. The tenor of the facility is 18 months and BSTDB will use the proceeds to help meet its development mandate.

This transaction builds upon previous successful cooperation between BSTDB and Geniki Bank.

“As a regional development bank, we place great emphasis on attracting additional sources of financing for our operations and we are happy not only to increasing financing resources for the region, but also to cooperate with one of the leading Greek banks”, said Hayrettin Kaplan, BSTDB President signing the agreement.

“Societe Generale Group is a leading financial institution in the region where BSTDB operates, with Geniki Bank in Greece, SG Express Bank in Bulgaria, BRD in Romania, Banka Popullore in Albania, Mobiasbanca in Moldova, Rosbank in Russia, Profinbank in Ukraine and Bank Republic in Georgia. The extensive presence of the SG Group in the region, in conjunction with the new financing facility and the mutual good cooperation with BSTDB, illustrates the dedication and long term commitment of SG Group towards the Black Sea Region”, stated Antonis Grammatikopoulos, Regional Head Large Clients of Geniki Bank Societe Generale Group during the signing.