BSTDB Backs Expansion of Leading Armenian Supermarket Chain
€15 Million Loan to SAS Group Will Boost Retail Infrastructure, Jobs, and Local Farming
The Black Sea Trade and Development Bank (BSTDB) is providing a €15 million loan to SAS Group LLC, one of Armenia’s top retail companies, to support its expansion plans and strengthen the country’s retail sector.
The financing will fund the construction of new retail outlets in Yerevan and help refinance existing obligations, reinforcing the company’s financial sustainability and long-term growth. A trusted partner of BSTDB since 2007, SAS Group has consistently demonstrated strong operational performance and commitment to quality service in Armenia’s retail sector.
“This investment reflects BSTDB’s continued commitment to fostering private sector growth in Armenia,” said Dr. Serhat Köksal, President of BSTDB. “By supporting a well-established local company like SAS Group, we are helping to modernize retail infrastructure, enhance consumer access, and create tangible economic value—from increased employment to stronger links with domestic producers. I am especially pleased to conclude our Armenia Business Forum with the signing of this agreement, which exemplifies the kind of partnership and progress we aim to promote across the region.”
“We are pleased to have agreed a new long-term loan from our established partner BSTDB. This financing will support our investments, leading to improved level of service and bringing benefits to our customers.” said Artak Sargsyan, SAS Founder.
Established in 1998, SAS-Group LLC one of the leading retail trade operators in Armenia. The Company operates in total ten retail outlets: eight supermarkets and two “Home Stores” in Yerevan.
The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. For information on BSTDB, visit www.bstdb.org.
Contact: Haroula Christodoulou
: @BSTDB
