BSTDB plans to increase its portfolio on Azerbaijan by $40 million in 2012

Business Materials 29 May 2012 18:33 (UTC +04:00)

Azerbaijan, Baku, May 29 /Trend A.Hasanov/

Number of active projects of the Black Sea Trade and Development Bank (BSTDB) in Azerbaijan reached 46, the bank's vice president Mustafa Boren said during the signing of a loan agreement with the Azerbaijani Unibank on Tuesday.

"The credit portfolio of BSTDB in Azerbaijan amounted to $116 million, and additional $40 million is set for 2012," Boren said.

Today the bank has already signed two loan agreements totaling $ 27 million ($ 22 million to refinance the construction of business center and five million dollars in loans to small and medium businesses) in Baku.

He also noted that the BSTDB is ready to provide loans to finance projects in agriculture, as well as to support the development of small and medium businesses.

BSTDB cooperates with nine Azerbaijani banks.

Today, Greece, Russia and Turkey remain the largest shareholders with stakes of 16.5 percent each. Romania owns 14 percent, Bulgaria and Ukraine - 13.5 percent each, Azerbaijan - five percent, Albania - two, Armenia and Moldova - one percent each, and Georgia - 0.5 percent.