BSTDB Supports Trade Market in Greece
Press Release | 04-Jul-2019
The Black Sea Trade and Development Bank (BSTDB) is fueling the trade promotion in Greece with a EUR 15 million Trade Finance Facility to Eurobank Factors (EF). The loan will enable Eurobank Factors to on-lend to Greek small and medium-sized companies engaged in international trade, thus contributing to the country’s revenues and growth.
“This facility will open up new opportunities for Greek companies to develop intra-regional trade with businesses from Bulgaria and Romania among others, thus contributing to BSTDB’s mandated objective for regional cooperation. Our partnership with Eurobank Factors demonstrates BSTDB’s continued commitment to supporting the recovery of the Greek economy and the financial sector,” stated Mr. Dmitry Pankin, BSTDB President.
“This valuable collaboration with BSTDB serves perfectly our strategic plan of enhancing our cross-border business profile by lending a helping hand to extrovert companies and boosting regional trade in general. Factoring has been proved extremely efficient during the period of the unprecedented financial crisis. This partnership demonstrates in the most illustrative manner that both our Banking Group and BSTDB share the same view about the potential of the factoring industry,” stated Mr. Konstantinos Vassiliou, Eurobank’s Deputy CEO and Chairman of Eurobank Factors.
Eurobank Factors was founded in 1999 in Athens as a 100% subsidiary of Eurobank. The company, since its inception, has been providing full range of factoring and forfaiting services to the local market. Eurobank Factors holds a leading position in the factoring market in Greece. It has also been recognized globally for the quality of its import and export factoring services being a twice world laureate of FCI awards for service excellence, a major distinction for the factoring industry and a remarkable achievement given the strong international competition. Eurobank Group has a factoring unit also in Bulgaria which is a local leader as well.
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
Twitter: @BSTDB
