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Black Sea Trade & Development Bank finances 28 projects in Turkey

07 March 2011 [19:00] - TODAY.AZ
Black Sea Trade & Development Bank (BSTDB) President Andrey Kondakov said that the bank was financing 28 projects in Turkey, Anadolu News Agency reported.

Portfolio in Turkey is the highest rate among other member countries, and continuously increasing, Kondakov said in a meeting in capital Ankara on Monday.

Noting that the bank showed a good performance in Turkey so far, Kondakov said that companies in Turkey were very important for them.

Kondakov said that the bank was Thessaloniki-based, and began operating in 1999, adding that Turkey, Ukraine, Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania and Russia were the members of the bank.

Noting that registered capital of the bank was 2.3 billion euro, Kondakov said that the bank financed a total of 225 projects. He added that they were currently financing 106 projects worth of 1.2 billion euro.

Giving information about 2010 performance of the bank, Kondakov said that the bank gained profit in the last five years, and pursued its profitability despite the the global economic crisis. He added that net profit of the bank was 12 million euro last year.

He said that the share of Turkey in the bank's capital was 16.5%, adding that Istanbul Kadikoy-Kartal Metro Line (50 million euro), Adana Light Rail Metro Project (33 million euro), Sabiha Gokcen Airport (29 million euro), Istanbul Metro (26 million euro) were among the projects the bank financed in Turkey.

The Bank supports economic development and regional cooperation by providing trade and project financing, guarantees, and equity for development projects supporting both public and private enterprises in its member countries.



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