BSTDB SUPPORTS EXPORT-IMPORT FINANCING IN UKRAINE
Press Release | 12-Nov-2007
BSTDB selected OJSC “Kreditprombank” from Ukraine as a financial intermediary for the implementation of its trade finance program in the country. BSTDB will extend a revolving trade finance facility of up to USD 10 million to OJSC “Kreditprombank” directed to Ukrainian exporters and importers doing business in and beyond the Black Sea region.
OJSC “Kreditprombank” became BSTDB’s third financial intermediary in Ukraine, with similar BSTDB financial facility provided to First Ukrainian International Bank and an SME credit line extended to Procredit Bank.
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OJSC “Kreditprombank” was founded in 1997 under the name Incombank. In September 1999, the Bank changed its name to OJSC “Kreditprombank”. As at 01.01.07 It is ranked 13th in terms of capital and 11th largest bank by assets in Ukraine. With its headquarters in Kyiv and offices all over Ukraine, the bank works with leading Ukrainian enterprises in the sectors of oil and power generation, construction, chemicals, pharmaceuticals, metallurgy, telecommunications, food-processing and retail trade. It also services an increasing number of small and medium-sized enterprises involved in cross-sector activities with Eastern European countries and CIS. OJSC “Kreditprombank”is actively expanding its cooperation with international financial institutions. The Bank is rated B- by Fitch and B2/NP by Moody’s.
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 1,5 billion), the Bank supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects in the public and private sectors in its member countries. BSTDB is rated Long Term Baa1 and Short Term P2 by Moody’s.