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Bulgaria’s Top 10 Banks in 2021
Capital Weekly ranks financial institutions in terms of stability, profitability and dynamics
Money for RES for businesses’ own use
Commercial lenders and Bulgarian Development Bank (BDB) provide financing for solar power plants for businesses. Also, there is a funding program with 200 million levs in grants under the Recovery Plan
Bulgarian banks’ profit rises to 1.4 billion levs in 2021
Lower impairment costs, decreased contributions to guarantee funds and the credit moratorium boosted annual profit by 600 million levs
KBC Group Buys Raiffeisenbank (Bulgaria) in record 1 billion euro deal
KBC Group is also owner of United Bulgarian Bank (UBB) and the merger of the two banks will create a third local giant of the caliber of UniCredit Bulbank and DSK
Food and beverage Top 30: Sunflower Billions
The sector as a whole performs well, but the champion is sunflower oil production
The deals of 2020: Few and far between
The pandemic practically froze the M&A market. Buyers are still mostly local faces
KBC expanding into Bulgaria’s pension insurance market
The Belgian group is acquiring Dutch-based NN’s Bulgarian businesses for 77.7 mln euro
The pressure below surface
Bulgarian banks remained profitable in the first three quarters of 2020 despite the coronavirus impact but with the expiry of the credit moratorium drawing nearer pressure will likely increase on profit margins in the coming months
New billion-lev deal in Bulgaria’s banking sector
DSK Bank is set to buy Societe Generale Expressbank for close to 1.0 billion levs, or 1.3 times its capital, vying for the top spot in the sector in terms of assets.
Accelerator for Bank Mergers
After the sector shrunk by four banks in the last five years, at least two more sales and a merger are expected before year-end.
You’ll be sold if you are small or deficient
Narrowing margins, a result of negative interest rates and stringent regulations, make smaller banks less and less profitable
UBB SELLS RECORD NPL PORTFOLIO TO EOS MATRIX
THE SALE IS THE BIGGEST NPL DEAL SO FAR, AS BULGARIAN BANKS CONTINUE TO CLEAN THEIR BALANCE SHEETS
Pension funds keep investing in related parties
Despite legislation against such practices adopted in 2017 they continue uninterrupted
Bulgaria’s best banks
UniCredit Bulbank leads Capital’s TOP 10 Banks ranking for a second year in a row