BSTDB grants bank-to-bank credit facility to Kapital Bank (Azerbaijan)

Press Release | 12-Jun-2006

The Black Sea Trade and Development Bank (BSTDB) will make available a US$ 4 million one year unsecured senior loan to Kapital Bank (Azerbaijan).

Kapital Bank will use the facility 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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Kapital Bank is a state-owned bank established in 2000. Kapital Bank is ranked third among Azerbaijani banks in terms of total assets and equity and has the largest branch network with nation-wide coverage. The Bank plays an important role in serving governmental entities and social programmes. Kapital Bank is rated Long Term B+ by Fitch.

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.