United Bulgarian Bank and KBC Bank Bulgaria have officially merged, after the merger was entered into the Commercial Register of Bulgaria. This operation took place with the permission of the European Central Bank and the Bulgarian National Bank.
In the summer of 2022, the Belgian KBC Groep acquired the business of Raiffeisen Bank International for the sum of over EUR 1 billion, and the bank was temporarily renamed KBC Bank Bulgaria. According to the Bulgarian National Bank, the new banking group UBB is now the leading bank in the country in terms of assets and a 19.3% market share. Along with its subsidiary companies operating in the field of insurance, leasing, pension insurance, asset management and factoring, it caters to more than 2.4 million clients in the country.
Bulgaria ranks 58th out of 67 countries in the World Competitiveness Yearbook of the Institute for Management Development (IMD), Switzerland. The country has shown a lack of progress since 2021 and dropped 10 positions compared to 2020 and 20..
According to data from the National Statistical Institute, Bulgaria experienced a monthly inflation rate of -0.2% in May 2024 . Year-on-year inflation from May 2024 compared to December 2023 stands at 0.4%, while the average annual inflation rate for the..
The demographic crisis in this country is advancing at a rapid rate, holding back the development of businesses, but this is a tendency observed in other countries as well. Because of their good qualifications, Bulgarian workers find work in many..
The Bulgarian National Bank (BNB) announced that it is lowering the base interest rate to 3.63% as of July 1. In May and June, the base interest rate..
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