BSTDB Concludes the 2018 Annual Meeting Events in Russia
Press Release | 02-Jul-2018
On 1 July 2018, the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) held its 20th Annual Meeting under the Chairmanship of Mr. Sergey Storchak, BSTDB Governor for Russia and Deputy Minister of Finance of the Russian Federation.
The Board of Governors approved the Bank’s Annual Report and financial statements. The Bank maintained profitability for the thirteenth consecutive year, while its operating income reached a record EUR 38.4 million. In 2017, the Board of Directors approved EUR 525 million in 27 new operations, showing an increase of 21% over the previous year. Signed operations increased by over 7% over 2016 figures.
The Board elected the Governor for the Republic of Türkiye as Chairman of the Board of Governors. The Governors for Ukraine and for the Republic of Albania were elected as Deputy Chairs, for a period of one year. Türkiye will host the next BSTDB Annual Meeting in June 2019.
In the framework of the Annual Meeting, the Bank organized a Business Forum titled “BSTDB: Supporting Russia’s Growth and Regional Cooperation” on 2 July, 2018. The Forum held in cooperation with the business association “Business Russia” and the Chamber of Commerce and Industry of the Krasnodar region gathered 200 participants, mostly from the South of Russia. BSTDB made a detailed presentation of its financial products, business practices and technical assistance opportunities offered to Russian businesses. BSTDB bankers had B2B meetings with interested companies to discuss investment initiatives and cooperation opportunities.
During the Forum, the Bank and the business association “Delovaya Rossiya” signed a cooperation agreement aimed to jointly promote regional trade and economic cooperation.
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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 are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A2” by Moody’s. For information on BSTDB, visit www.bstdb.org.
Press contact:
Haroula Christodoulou
Phone: +30 2310 290533
E-mail: cchristodoulou@bstdb.org