BSTDB Concludes the 2018 Annual Meeting in Russia

On1 July 2018, the Board of Governors of the Black Sea Trade and Development Bank (BSTDB) held its20th Annual Meetingunder the Chairmanship of Mr. Sergey Storchak, BSTDB Governor for Russia and Deputy Minister of Finance of the Russian Federation.

The Board of Governors approved the Bank’s Annual Report and financial statements. The Bank maintained profitability for the thirteenth consecutive year, while its operating income reached a record EUR 38.4 million. In 2017, the Board of Directors approved EUR 525 million in 27 new operations, showing an increase of 21% over the previous year. Signed operations increased by over 7% over 2016 figures.

The Board elected the Governor for the Republic of Türkiye as Chairman of the Board of Governors. The Governors for Ukraine and for the Republic of Albania were elected as Deputy Chairs, for a period of one year. Türkiye will host the next BSTDB Annual Meeting in June 2019.