BSTDB signs bank-to-bank facility with Technikabank (Azerbaijan)

Press Release | 12-Jun-2006

The Black Sea Trade and Development Bank (BSTDB) will make available a US $ 2 million unsecured Bank-to-Bank credit facility to Technikabank (Azerbaijan).

Technikabank will use the facility that carries a tenor of one year for general multi-purposes, including short-term financing of specific projects for the creation, modernization, expansion and diversification of any business facilities; working capital financing for trade, service, infrastructural and manufacturing enterprises for general day-to-day operations; export and pre-export financing.

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Technikabank is a universal private bank operating since 1994. It is ranked 4 in Azerbaijan in terms of assets. Technikabank issues credit lines to customers engaged in trade, service and construction sectors, attracts deposits from legal entities and individuals, service current accounts of the clients, issues debit and credit cards to the individuals and executes documentary operations and electronic banking.

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.