Portfolio of BSTDB for Azerbaijan decreases

Finance Materials 22 September 2022 15:49
Baku, Azerbaijan Trend News Agency
Portfolio of BSTDB for Azerbaijan decreases

The current project portfolio of the Black Sea Trade and Development Bank (BSTDB) in Azerbaijan as of January 1, 2022 amounted to 49.4 million euros, Trend reports via the Bank’s annual report.

According to the document, this amount has more than halved, compared to 105.3 million euros as of January 1, 2021.

The balance of the bank's loans in the national currency (manat) as of the end of 2021 amounted to 5.1 million manat ($3 million), compared to 4.8 million manat ($2.8 million) as of the end of 2020.

Meanwhile, the portfolio breakdown of the BSTDB for Azerbaijan is as follows: support for financial institutions (47.42 percent), energy (34.95 percent), real estate (8.4 percent), and consumer goods (4.4 percent).

Azerbaijan's share in the bank's share capital is 5 percent.

The BSTDB was founded in January 1997 to support the economic development of the Black Sea basin countries and strengthen regional cooperation. Its founders and shareholders are the governments of 11 countries: Russia, Greece, Turkey, Bulgaria, Ukraine, Romania, Albania, Azerbaijan, Armenia, Georgia and Moldova.