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400 million leva bank investments for the transition to the euro

published on 3/30/25 4:15 PM

Photo: Pixabay

Banks have invested 400 million leva in preparing their systems for a smooth transition to the euro, announced Petya Dimitrova, chairwoman of the Association of Commercial Banks. She also recalled some of the benefits of the transition to the single currency:

“The next step after the Schengen area – the eurozone – will contribute not only to expanding the business sector. We believe that competitiveness, operational efficiency, access to capital, expanding markets are some of the common key things. Tourists and the entire business not having to convert, not having currency risk, having price transparency, being part of the large market are the great benefits.”

According to Petya Dimitrova, the partnership between banks and the tourism industry is good and by the end of last year, financial institutions had lent over 2.3 billion leva to the “hotel” and “restaurant” sectors.

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