Following a proposal by the government of the Republic of Turkey, the Black Sea Trade and Development Bank (BSTDB) board of governors has appointed Ihsan Ugur Delikanli as president of the BSTDB for a period of four years.

Delikanli replaces Andrey Kondakov, who ran the bank from July 2010.

Commenting on the aims of the bank since his appointment, Delikanli, BSTDB president, tells GTR: “Since its establishment 15 years ago, BSTDB has invested over €2.6bn to support economic policy priorities in member countries, focusing on trade, SMEs and other key sectors generating growth and employment.

“Building upon this track record, the bank intends to offer a broader array of more sophisticated products in the coming years, responding to the needs of public and private companies and banks doing business in the Black Sea region. BSTDB will continue to expand its operational presence in all eleven member countries, with increased emphasis on supporting cross-border activities and regional cooperation.”

Delikanli started his professional career in the financial sector as a sworn bank auditor at the under-secretariat of Treasury of the Republic of Turkey in 1992. In 2005 he became head of the regulations department in the Banking Regulation and Supervision Agency of Turkey, and in 2009 he was appointed vice-president. In 2012 he moved to the private sector as executive vice-president of one of the Turkish investment banks.

He also served as the representative of the Republic of Turkey at Basel Banking Supervision Committee between 2009 and 2012.