The Bulgarian National Bank (BNB) has approved the merger of KBC Bank Bulgaria (former Raiffeisenbank Bulgaria) and the United Bulgarian Bank (UBB). The decision is in implementation of an instruction of the European Central Bank, the BNB said. The operation is part of the financial measures that need to be supported by the Bulgarian National Bank as a member of the Single Supervisory Mechanism (SSM). After the transformation, UBB becomes the universal legal successor of KBC Bank Bulgaria which is dissolved without liquidation.
The financial situation in the country is critical, Finance Minister Temenuzhka Petkova says. Which means that the good news – the slowing inflation rate (on an annual basis) and Bulgaria’s full accession to the Schengen area at the beginning of the..
Moody's Ratings has affirmed Bulgaria's long-term and short-term rating at Baa1 with a stable outlook. The affirmation of Bulgaria's Baa1 rating reflects the rating agency's expectations that Bulgaria's debt and creditworthiness indicators will remain..
On January 27th, government securities for 150 million euros (300 million leva) will be offered on the domestic market , the Bulgarian National Bank (BNB) announced. The bonds will have a maturity of 7 years and an annual interest rate of 3.25%. On..
Mostly Cloudy
Cloudy
Partly Cloudy