BULGARIAN FINANCES : BULGARIAN BANKS

Bulgarian National Bank

Commercial Banks

Aplha Bank

BNP Paribas S.A.

UniCredit Bulbank

Biochim

First Investment Bank

Hebros

ING Bank

Postbank

ProCredit Bank

SG Expressbank

United Bulgarian Bank

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Bulgarian Bank System

Bulgaria's financial system is dominated by the banking sector. The banking system has undergone major reform since its virtual collapse in 1996, influenced strongly by the 1997 introduction of the currency board and stronger supervision and tighter prudential rules for the banking sector. With the possibility of bailouts eliminated under the currency board, banks have had to focus on sound banking practices.

There are 31 private banks and four public banks. Foreign banks hold over 70 percent of bank capital. The insurance market is fully private with the sale of two state-owned firms and has expanded rapidly since the adoption of the 1997 insurance law. Foreign insurers are strong participants. The well-maintained stock market is active but small. The government is active in capital markets through the auction of short-term treasury bills.

Banks Licensed in the Republic of Bulgaria
UniCredit Bulbank AD
DSK Bank EAD
United Bulgarian Bank AD
Eurobank EFG Bulgaria AD (former Bulgarian Post Bank AD)
Raiffeisenbank (Bulgaria) EAD
Societe Generale Expressbank AD
Allianz Bank Bulgaria AD
Piraeus Bank Bulgaria AD
MKB Unionbank AD
First Investment Bank AD
Economic and Investment Bank AD (EIBank)
Emporiki Bank – Bugaria EAD
Bulgarian-American Credit Bank AD
ProCredit Bank (Bulgaria) AD
D Commerce Bank AD
Corporate Commercial Bank AD
Investbank AD
Central Cooperative Bank AD
Municipal Bank AD, Sofia
Bulgarian Development Bank AD
International Asset Bank AD
Texim Private Enterpeneurial Bank AD
"Tokuda Bank" AD
NLB West-East Bank AD

Foreign Banks' Branches Operating in the Republic of Bulgaria
ING Bank N.V. - Sofia Branch
BNP Paribas S. A. - Sofia Branch
Alpha Bank S. A. - Bulgaria Branch
Citibank N. A. - Sofia Branch
T.C. Ziraat Bankasi - Sofia Branch

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NEWS & ARTICLES ABOUT "BULGARIAN BANKS"

- 2009-11-13 11:09 Minister of finances comments interest rates on loans during visit to Vratsa
- 2009-11-13 01:51 Italian company clinched leasing for wind farm in Kavarna
- 2009-11-13 00:01 Latvian bank opens branch in Varna
- 2009-11-12 10:00 Bulgaria going to apply to the ERM-2
- 2009-11-10 20:20 Losses of Bulgarian banks will reach about BGN 3.7 bn
- 2009-11-10 01:00 Banks asks BNB to reduce the rate of the mandatory minimum financial reserves
- 2009-11-02 03:00 Lowest basic interest rate since 1991
- 2009-10-09 01:00 Postbank grants BGN 300,000 to pupils and students
- 2009-10-07 01:00 Prices of alcoholic drinks and cigarettes in Bulgaria will be increased
- 2009-10-01 10:01 BG base interest rate down to 1.46% for October
- 2009-09-25 09:00 Bad credits in Bulgaria increased to 7.4%
- 2009-09-14 10:00 Foreign companies and private persons opening bank deposits in Bulgaria
- 2009-09-11 03:00 4 banks will decrease interest rates on their credits
- 2009-09-01 09:26 The National Bank announces a base interest rate of 1.57%
- 2009-09-01 00:05 DSK Bank extends the special terms on deposits in EUR, BGN and USD
- 2009-08-26 08:00 Bad credits in BG banking system grown by 159%
- 2009-08-25 09:30 The operating income of Raiffeisenbank Bulgaria increased 10%
- 2009-08-20 09:17 Resignation of Governor of the Bulgarian National Bank
- 2009-08-18 07:00 UniCredit Bulbank, UBB and Raiffeisenbank - top commercial lenders in Q2 of 2009
- 2009-08-18 01:40 Bulgaria GDP Dropped 4.8% in Q2 of 2009

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