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New BSTDB President Assumes Duties

Press Release | 18-Jul-2022

Dr. Serhat Köksal assumed office as the new President of the Black Sea Trade and Development Bank (BSTDB) for a period of four years as of 16 July 2022. Following a nomination of the Republic of Türkiye, Dr. Köksal was unanimously elected at a special meeting of the Bank’s Board of Governors held on 25 February 2022. Dr. Köksal is replacing Mr. Dmitry Pankin, who has run the Bank since July 2018.

Dr. Köksal, 40, was born in Türkiye.  Having started as an expert at the Turkish Statistical Institute, he served for seven years as head auditor at the Turkish Court of Accounts, before becoming Deputy Secretary General of the Constitutional Court of Türkiye.  In 2017, he joined the Ministry of Treasury and Finance as Deputy Director General of the Department of Foreign Economic Relations and became Director of the Department in August 2020- a position he held until his appointment at BSTDB.  Throughout his tenure at the Turkish Ministry of Finance and Treasury, he was mainly in charge of the country’s participation in international financial institutions, investment and financial relations and regional economic cooperation.

In 2020-2022, he represented Türkiye on the Board of Directors of the Black Sea Trade and Development Bank and the Council of Europe Development Bank.

During his career, Dr. Köksal has been actively involved in the implementation and supervision of public and critical infrastructure projects in Türkiye (hospitals, highways, powerplants).

He has a Master of Business Administration from Middle East Technical University (Türkiye), a Master of Science in Accounting and Finance from the University of Warwick (UK) and a PhD in Accounting and Finance from Ankara University (Türkiye).

Dr. Köksal is the author of several publications in the field of banking and finance.

“I am honoured to have been entrusted with the great responsibility of leading the Black Sea Trade and Development Bank at a time of profound challenges for the entire region.  I truly believe that the region’s best days are ahead, and it is our collective responsibility to navigate the crisis, deliver targeted investments across the region and help contribute to the vision of the shareholders to increase regional cooperation and development.”, said Serhat Köksal after taking up his post.
 
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 “Baa1” by Moody’s. For information on BSTDB, visit www.bstdb.org.
 


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