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K10: The Best Banks of 2023
UniCredit Bulbank again leads the Capital Weekly’s ranking of banks in Bulgaria, UBB is now the largest bank, DSK reports record profit
DSK, UniCredit Bulbank Plan to Distribute Over 1 Billion Levs in Dividends
Most of the 3.4 billion levs (1.7 billion euro) profit reported by the banking sector for 2023 will be reinvested
Euphoria Fading on Bulgaria's Housing Market
After peaking in 2021-2022, transactions and, construction permits are now declining, and price growth is slowing down
Bulgarian banks' profit soars to 1 bln levs in the first four months of 2023
Expanding net interest income remains the main growth driver
KBC Bank Bulgaria wraps up legal merger into United Bulgarian Bank
The two banks’ operational unification will take a year or so
Bulgarian banks’ profit hits record 2 billion levs in 2022
The banking sector posts the strongest growth in all segments since the global crisis
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.