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BSTDB at a glance
The Black Sea Trade & Development Bank is an international financial institution with supranational status and a mandate to foster economic growth and regional cooperation amongst its Member States in the Black Sea Region.
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Target Borrowers & Projects
- Public and private companies with operations in one or more of the Member States.
- Transaction benefits Member State/s and has develop. impact.
- Economically sustainable / financially viable so Bank participation will be profitable and the undertaking will prove sustainable beyond BSTDB’s involvement
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Products & Services
- Lending: Short to long-term loans, typically extended in USD or EUR
- Guarantees
- Trade Finance: Firms importing from Member States and regional exporters
- Co-financing
- SME’s: Financing through credit lines to local financial intermediaries
- Bank equity / funds: Equity investments, looks to take stake of 5-25%
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Priority Sectors
- Energy
- Public utilities
- Environ. protection
- Telecoms
- Financial institutions
- Manufacturing
- Transport
- Municipal Services
- SME’s and Trade Finance
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“The ratings are based on our assessments of BSTDB's extremely strong financial and moderate enterprise risk profiles. Although the bank's financial strength underpins the ratings, credit constraints stem from its policy role and the overall relevance of its funding contribution”
S&P Rating Services. Research Update: Black Sea Trade and Development Bank, July17th, 2019 -
“The Black Sea Trade and Development Bank's (A2 stable) credit strengths include its robust capital base and low leverage, both of which have been strengthened by the doubling in subscribed capital over the last 10 years. In addition, the bank has a substantial stock of liquid assets and benefits from its shareholders' strong willingness but weak ability to support the institution.”
Moody’s Annual Credit Analysis. 17th October 2019
Historical Portfolio Development (€ millions)
Financial Statements Summary (€ 000’s)
| YEAR END | 2017 | 2018 | 2019 | 1h 2020 |
|---|---|---|---|---|
| Assets | 1,514,926 | 1,795,767 | 2,343,437 | 2,473,695 |
| Liquid Assets | 373,729 | 443,933 | 502,447 | 484,249 |
| Loan Portfolio | 1,135,081 | 1,330,695 | 1,820,941 | 1,943,613 |
| Other Assets (Net) | 6,116 | 21,139 | 20,049 | 45,833 |
| Liabilities | 756,256 | 994,167 | 1,513,028 | 1,643,529 |
| Borrowings | 722,592 | 954,030 | 1.485,155 | 1,585,339 |
| Other Liabilities | 33,664 | 40,137 | 27,873 | 50,190 |
| Members Equity | 758,670 | 801,600 | 830,409 | 830,166 |
| Income | 80,459 | 79,615 | 94,260 | 53,649 |
| Interest | 69,805 | 78,817 | 93,969 | 52,566 |
| Other | 10,654 | 898 | 291 | 1,083 |
| Expenses | 71,804 | 74,439 | 80,597 | 49,289 |
| Interest | 42,037 | 37,974 | 53,274 | 31,634 |
| Administrative | 19,741 | 21,175 | 21,517 | 17,646 |
BSTDB Capital Structure (EUR 000’s)
| Authorised Capital | 3,450,000 |
| Subscribed Share Capital | 2,288,500 |
| Paid In Share Capital | 686,550 |
| Reserves and Retained Earnings | 143,616 |
| Total Members Equity | 830,166 |