New BSTDB President Assumes Duties

Press Release | 16-Feb-2006

Following a proposal of the Government of the Republic of Türkiye, the BSTDB Board of Governors appointed Mr. Hayrettin Kaplan as President of the Bank from February 16, 2006 for a period of 4 years.

Mr. Hayrettin Kaplan, 43, was born in Türkiye. He has a Masters Degree in Economics from Boston’s Northeastern University and a PhD degree in Banking from the University of Marmara (Türkiye).

Mr. Kaplan started his professional career in 1987 at the Undersecretariat of Treasury and Foreign Trade of the Republic of Türkiye and occupied progressively responsible positions to become a Chief Sworn Bank Auditor at the Undersecretariat in 1990.

Having being at the Board of Sworn Bank Auditors for ten years, he joined Family Participation Bank in 2000 as a Deputy General Manager in charge of Treasury, Fund and Risk Management, Financial Analysis and International Banking, among other areas. The bank belongs to Ulker Group, a leading foodstuff, and beverages company in Türkiye with a strong presence in the Balkans, Middle East, and Central Asia.

Mr. Kaplan is the author of several publications in the field of banking and finance.

Mr. Kaplan replaces Mr. Mustafa Gürtin at BSTDB, whose term in office expired on 15 February 2006.

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The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters is in Thessaloniki, Greece. With an authorized capital of SDR 1 billion (approx. USD 1,45 billion), the Bank supports economic development and regional cooperation by providing financing, guarantees, and equity for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa2 and Short Term P2 by Moody’s.