News Guide Bulgaria Finances and Money

EUR 1 million increase in interest rates on deposits of individuals and business loans in Bulgaria

Wed, 30 Jan 2013 11:10:00 GMT

Data of the Bulgarian National Bank (BNB) for December shows up to EUR 1 million increase in interest rates on deposits of individuals and business loans. This has interrupted the trend of a steady decline in interest rates which characterized 2012. Wh...

More optimistic analysts of Unicredit Bulbank in their outlook on Bulgaria for 2014

Mon, 21 Jan 2013 10:22:00 GMT

The analysts of Unicredit Bulbank appear to be quite optimistic in their outlook on Bulgaria for 2014. The Unicredit Bulbank’s report containing macroeconomic statistics about Bulgaria’s expected GDP growth was presented at Euromoney`s annual meeting in ...

7 Bulgarian banks will receive BGN 607 million via an initiative of the National Guarantee Fund

Fri, 18 Jan 2013 12:04:00 GMT

7 Bulgarian trade banks will receive BGN 607 million via an initiative of the National Guarantee Fund (NGF), part of the Bulgarian Development Bank (BDB). The financial institutions in question are: DSK Bank, Postbank , UBB Bank , Raiffeisenbank, CIBan...

First Investment Bank renewed agreement with Taiwan's Eximbank

Thu, 17 Jan 2013 11:03:00 GMT

First Investment Bank (Fibank) on Wednesday renewed its framework agreement with Taiwan`s Eximbank. Under the accord, Fibank will be lending money for Taiwanese imports. Funding terms range from 6 to 12 months for non-durable goods and between 6 months...

The Austrian Meinl Bank planning to open a branch in Bulgaria

Thu, 10 Jan 2013 11:33:00 GMT

The Austrian investment Meinl Bank registered a commercial representation in Bulgaria and is planning to open a branch that should be operational by mid-2013. The initial investment capital of the Bulgarian representation is EUR 10 million. Entering the ...

Austrian Meinl Bank with new services unavailable so far on the Bulgarian market

Fri, 21 Dec 2012 11:47:00 GMT

Austrian Meinl Bank, which officially opened an office in Bulgaria will offer new services unavailable so far on the Bulgarian market. It is a question of investments in equities as well as investment products connected with real estates, stated Peter Wein...

The deposits in Bulgarian banks are mainly Bulgarian

Wed, 05 Dec 2012 10:55:00 GMT

The money deposited in banks is mainly Bulgarian. The share of local resources is growing and now reaches 81.8%, BNB data revealed. The trend for increased financing from local resources started several years ago because of two reasons. Foreign banks...

Sofia: Management changes for Sofia Branch of BNP Paribas Bulgaria

Wed, 07 Nov 2012 02:26:00 GMT

BNP Paribas S.A . - Sofia Branch (www.bnpparibas.bg) is a corporate and investment bank in Bulgaria . It serves large corporate and institutional clients, spanning the major sectors in the economy. They benefit from a full range of commercial and investm...

BNB will auction EUR 30 million euro in seven-year Treasury notes

Mon, 05 Nov 2012 10:36:00 GMT

Bulgaria`s central bank will auction EUR 30 million euro in seven-year Treasury notes on November 12. The issue bears an annual coupon of 4.5% and will mature on January 18, 2019, the central bank, which auctions government securities on behalf of the fi...

Finance minster think over taxes on gambling and stock exchange profits

Mon, 15 Oct 2012 12:22:00 GMT

After the new tax on interest of bank deposits of Bulgarians , Finance Minister, Simeon Dyankov, plans to impose taxes on gambling and stock exchange profits. He informed these new taxes could also become effective as early as the beginning of 2013. He ...

Commercial banks in Bulgaria with new fee if they care for the new tax on the interests of bank deposits

Fri, 12 Oct 2012 10:41:00 GMT

The commercial banks in Bulgaria are ready to respond to the new tax on the interests of bank deposits, mulled over by the government, with a new fee which, they say, will cover their calculations of how much they should deduct from each deposit and tra...

UBB and Postbank may merge after the merge of Greek banks

Mon, 08 Oct 2012 10:55:00 GMT

Two of Greece`s biggest banks, NBG and Eurobank, are in merger talks to create the country`s biggest lender. If the merger materializes, the lenders Bulgarian subsidiaries UBB (NBG) and Postbank (Eurobank) may also merge. Greece`s banks are under pre...

Bayern LB sells its part of MKB Unionbank

Mon, 10 Sep 2012 03:20:00 GMT

The second largest bank in Bavaria - Bayern LB, sells its foreign units as part of its obligations for return of German government’s bailout. One of them is the Bulgarian bank MKB Unionbank, which was acquired by Bayern LB’s subsidiary the Hungarian MKB Ba...

Fibank has been named best mobile banking provider

Mon, 10 Sep 2012 03:14:00 GMT

First Investment Bank (Fibank) has been named best mobile banking provider in the European Mystery Shopping survey, performed by International Service Check. The survey, carried out in five European countries - Bulgaria, the Czech Republic, Poland, Slo...

Bulgarian banks - among the best in Europe

Thu, 30 Aug 2012 15:06:00 GMT

Bulgarian banks are among the best in Europe, showed the Mystery Shopper survey of International Service Check. Our country ranks 4th in the final rating of all financial institutions on the Old Continent and Societe Generale Expressbank , Allianz Bank ...

Teximbank is planning a BGN 20 million capital raise

Tue, 21 Aug 2012 15:06:00 GMT

Teximbank is planning a BGN 20 million capital raise, it transpires from an invitation for a general meeting of shareholders on 10 September published in the Commercial Register. The company would also become public once the capital raise is complete. Th...

Banks in Bulgaria for the first 6 months of 2012

Wed, 01 Aug 2012 10:21:00 GMT

The banks in Bulgaria have written off credit debts worth 1.082 billion levs only in the first six months of 2012, show the data of BNB . This is the sum total of all credits which have not been serviced for over 180 days. According to the regulatory ...

The annual interest rate on the new eurobonds of Bulgaria will be around 4.5%

Tue, 03 Jul 2012 16:29:00 GMT

The orders, placed for the new Bulgarian global bonds, with which the Government intends to pay in January the maturing loan, agreed by former finance minister Milen Velchev, exceed five times the issue. This practically means that the securities were ma...

For 3 years Bulgarian banks have collected only 30% of the their bad loans

Thu, 28 Jun 2012 11:37:00 GMT

For three years Bulgarian banks have collected only 30% of the their bad loans and at expenses worth some 10% of the value of the receivables. This is data from the Doing Business 2012 report of the World Bank. The volume of bad loans is increasing, but ...

First Investment Bank is Bulgaria's "Bank of the Year" for 2011

Thu, 28 Jun 2012 11:34:00 GMT

First Investment Bank has been declared Bulgaria`s "Bank of the Year" for 2011 in the 20th edition of the annual "Bank of the Year" Awards. First Investment Bank has also received the award for "Market Share" for 2011, Valentin Panayotov, chairman of the...

Standard Investment Currency Markets was delisted from the registry of the financial institutions

Fri, 22 Jun 2012 10:27:00 GMT

Bulgaria’s central bank delisted local company Standard Investment Currency Markets from the financial institutions registry at the company`s own request. After the license has been revoked, the company has no right to sell currency or to offer such deal...

Connecting all cash registers across Bulgharia to the National Revenue Agency prevented BGN 1 billion tax evasion

Tue, 19 Jun 2012 10:42:00 GMT

The law connecting all cash registers across the country to the unified information system of the National Revenue Agency (NRA) has prevented tax evasion in the amount of BGN 1 billion, the NRA experts have calculated. Before the introduction of the mand...

Insurance companies in Bulgaria reduced their investment in deposits

Fri, 15 Jun 2012 10:40:00 GMT

Insurance companies in Bulgaria have reduced their investment in deposits by nearly 12% in the first quarter year-on-year, according to data of BNB . In late March, deposits of companies in the sector amounted to BGN 892 mln. Domestic insurers have redu...

Teximbank will become a publicly-owned company

Wed, 30 May 2012 15:15:00 GMT

Teximbank will become a publicly-owned company, it has emerged from the invitation for a general meeting in the Trade Register of the credit institution, which will be held on June 28. At present the bank does not plan to raised capital on the stock exchan...

Postbank with new CEO

Wed, 30 May 2012 15:12:00 GMT

Petya Dimitrova, Executive Director of Postbank , was appointed CEO of the bank. Dimitrova will assume the post of Anthony Hassiotis, who will on his part head the companies from the Eurobank EFG Group in Romania and Bancpost S.A. Hassiotis has been in ch...