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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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Baa2/ P-3/ Negative
Starndars & Poors logo
BBB+/Watch Neg/A-2
  • 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
  • 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%
  • Sectors

    • Energy
    • Public utilities
    • Environ. protection
    • Telecoms
    • Financial institutions
    • Manufacturing
    • Transport
    • Municipal Services
    • SME’s and Trade Finance

Historical Portfolio Development (€ millions)

Financial Statements Summary (€ 000’s)

YEAR END 2020 2021 2022 1H 2023
Assets 2,809,019 3,225,109 2,935,465 2,519,303
Liquid Assets 722,289 890,671 879,129 704,147
Loan Portfolio 2,042,921 2,344,438 2,056,336 1,815,156
Liabilities 1,965,311 2,349,387 2,099,108 1,640,334
Borrowings 1,901,714 2,274,160 1,915,655 1,479,169
Other Liabilities 63,597 75,227 183,453 161,165
Members Equity 843,708 885,722 836,357 878,969
Interest Income 97,856 105,171 151,268 88,539
Interest Expenses -61,048 -58,492 -59,021 -35,925
Net Interest Income  44,235 60,478 96,635 44,035
Operating Income 50,170 51,004 63,772 39,165
Income Before Expected CR Losses 29,387 29,600 40,383 27,122
Income for the Period 14,215 43,897 -27,586 40,007

Historical Development (%)

BSTDB Capital Structure (EUR 000’s)

Authorised Capital 3,450,000
Subscribed Share Capital 2,288,500
Paid In Share Capital 686,550
Reserves Member Equity 83,397
Retained Earnings 109,022
Total Members Equity 878,969

Member States Capital Share

Outstanding Loan Portfolio by Country

Credit Summary

  • Highly experienced Senior Management Team
  • Strong capitalization compared to peers
  • High portfolio regional and sector diversification with 9 sectors represented
  • 63% of all Stage 3 loans fully provisioned
  • Robust liquidity position with no liquidity gaps on the balance sheet even in stressed scenarios
  • No significant rate or FX exposures
Source: Information from Condensed Interim Financial Statements as of 30.06.2023