Typically for Eastern European countries, Bulgarian banking sector is characterized by relatively small size, small number of banks with wide business focus, high degree of concentration and high share of foreign capital.
The most commonly used ratio to measure the size of a banking sector, namely the ratio of consolidated banking assets to gross domestic product, for Bulgaria shows that its banking sector is roughly the same size as its national economy (the ratio is 107.09%). Most of the banks operating in Bulgaria are universal banks providing products and services in retail and corporate banking. Although there are no pure direct banks in Bulgaria, all banks offer their services via the Internet. There are also several digital-first banks that offer their services mainly online. Bulgaria is also part of the Single Euro Payments Area (SEPA) and TARGET systems.
Since 1 October 2020 Bulgaria is part of European Banking Union and since 10 July 2020 it is participant into ERM II Mechanism, a step before adopting the Euro as a national currency.
The following is a list of banks in Bulgaria.
Аll amounts are in BGN thousand.
Rank
(2023) |
Name | SWIFT (BIC) | Assets Dec 2022[1] | Assets Mar 2023[2] | Assets Jun 2023[3] | Assets Sep 2023[4] | Assets Dec 2023[5] | Shareholders - over 10% (Sep 2023)[4] |
---|---|---|---|---|---|---|---|---|
1. | United Bulgarian Bank | UBBSBGSF | 17 527 277 | 17 784 341 | 31 372 505 | 32 535 403 | 34 041 583 | KBC BANK N.V., Kingdom of Belgium – 99,96% |
2. | DSK Bank | STSABGSF | 28 967 838 | 30 418 500 | 30 569 370 | 31 071 709 | 32 773 713 | OTP Bank RT, Hungary – 99.92% |
3. | UniCredit Bulbank | UNCRBGSF | 28 889 110 | 30 402 869 | 29 944 342 | 30 828 060 | 32 124 499 | UNICREDIT S.P.A., Republic of Italy – 99.45% |
4. | Eurobank Bulgaria (Postbank) | BPBIBGSF | 16 365 976 | 16 985 023 | 17 775 858 | 18 336 093 | 19 389 819 | Eurobank Ergasias S.A., Greece – 99,9%
ERB New Europe Holding B.V., Kingdom of the Netherlands |
5. | First Investment Bank (Fibank) | FINVBGSF | 12 714 058 | 12 932 120 | 13 055 009 | 13 186 654 | 13 888 895 | Tzeko Todorov Minev, Republic of Bulgaria – 27.33%
Ivaylo Dimitrov Mutafchiev, Republic of Bulgaria – 27.33% Bulgarian Development Bank, Republic of Bulgaria - 18.35% |
6. | Central Cooperative Bank | CECBBGSF | 7 789 916 | 7 871 229 | 7 891 195 | 8 017 131 | 8 189 817 | CCB Group EAD, Republic of Bulgaria – 61.05% |
7. | ProCredit Bank, Bulgaria | PRCBBGSF | 3 743 202 | 3 750 859 | 3 889 039 | 4 096 606 | 4 175 426 | ProCredit Holding AG, Federal Republic of Germany – 100% |
8. | Allianz Bank Bulgaria | BUINBGSF | 3 997 100 | 4 116 950 | 3 763 962 | 3 916 914 | 3 945 650 | Allianz Bulgaria Holding JSC, Republic of Bulgaria – 99.9% |
9. | Investbank | IORTBGSF | 2 842 847 | 2 991 420 | 2 862 274 | 3 016 658 | 3 164 646 | Festa Holding JSC, Republic of Bulgaria – 83.8%
Petia Ivanova Barakova-Slavova, Republic of Bulgaria – 10.68% |
10. | TBI Bank | TBIBBGSF | 2 096 750 | 2 282 477 | 2 433 944 | 2 663 458 | 2 906 515 | TBIF Financial Services B.V., Kingdom of the Netherlands – 100% |
11. | Bulgarian Development Bank | NASBBGSF | 3 073 175 | 3 171 250 | 3 080 974 | 2 829 432 | 2 800 224 | Ministry of Innovation and Growth, Republic of Bulgaria – 100% |
12. | Bulgarian-American Credit Bank | BGUSBGSF | 2 656 117 | 2 676 504 | 2 521 852 | 2 398 432 | 2 790 176 | CSIF JSC, Republic of Bulgaria – 45.67%
LTBI HOLDINGS LLC, USA – 33.45% |
13. | International Asset Bank | IABGBGSF | 2 225 182 | 2 254 113 | 2 247 382 | 2 426 817 | 2 486 860 | Dynatrade International Ltd, Republic of Bulgaria – 33% |
14. | Municipal Bank PLC | SOMBBGSF | 2 154 155 | 2 197 118 | 2 218 605 | 2 221 322 | 2 368 046 | NOVITO OPPORTUNITIES FUND AGMVK, Principality of Liechtenstein – 96.51% |
15. | Citibank Europe, Bulgaria Branch | CITIBGSF | 1 832 315 | 1 979 499 | 1 829 131 | 2 009 098 | 1 746 407 | Citibank Europe Plc., Republic of Ireland – 100% |
16. | D Commerce Bank | DEMIBGSF | 1 582 191 | 1 512 964 | 1 762 674 | 1 744 060 | 1 660 030 | Fuat Güven (Fuat Hyusniev Osmanov), Republic of Bulgaria – 55.52%
FORTERA EAD, Republic of Bulgaria – 44.48% |
17. | ING Bank N.V., Sofia Branch | INGBBGSF | 1 178 898 | 1 375 395 | 1 350 809 | 1 371 093 | 1 255 596 | ING Bank N.V., Kingdom of the Netherlands – 100% |
18. | BNP Paribas S.A. – Sofia Branch | BNPABGSX | 872 986 | 859 273 | 861 723 | 768 516 | 728 392 | BNP Paribas S.A., Republic of France – 100% |
19. | Texim Bank | TEXIBGSF | 596 903 | 581 830 | 599 154 | 608 090 | 645 410 | Web Finance Holding AD, Republic of Bulgaria – 17.93% |
20. | Tokuda Bank | CREXBGSF | 459 660 | 464 937 | 467 168 | 473 680 | 485 465 | Tokushukai Incorporated, Japan – 99.94% |
21. | T.C. Ziraat Bank, Sofia Branch | TCZBBGSF | 373 936 | 343 119 | 384 346 | 363 903 | 416 158 | T.C. Ziraat Bankasi A.Ş., Ankara, Republic of Turkey – 100% |
22. | Varengold Bank AG, Sofia Branch | VGAGBGSF | 79 712 | 78 326 | 71 910 | 89 539 | 72 468 | Varengold Bank AG, Federal Republic of Germany – 100% |
23. | Bigbank AS, Bulgaria Branch | BIGKBGSF | 15 176 | 15 307 | 15 177 | 16 820 | 20 906 | Bigbank AS, Estonia – 100% |