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.

Central bank

Development banks

Commercial banks

Аll amounts are in BGN thousand.

Rank

(2023)

Name SWIFT (BIC) Assets Sep 2022[1] Assets Dec 2022[2] Assets Mar 2023[3] Assets Jun 2023[4] Assets Sep 2023[5] Shareholders - over 10% (Sep 2023)[5]
1. United Bulgarian Bank UBBSBGSF 16 598 935 17 527 277 17 784 341 31 372 505 32 535 403 KBC BANK N.V., Kingdom of Belgium – 99,96%
2. DSK Bank STSABGSF 27 213 192 28 967 838 30 418 500 30 569 370 31 071 709 OTP Bank RT, Hungary – 99.92%
3. UniCredit Bulbank UNCRBGSF 27 894 886 28 889 110 30 402 869 29 944 342 30 828 060 UNICREDIT S.P.A., Republic of Italy – 99.45%
4. Eurobank Bulgaria (Postbank) BPBIBGSF 15 650 085 16 365 976 16 985 023 17 775 858 18 336 093 Eurobank Ergasias S.A., Greece – 99,9%

ERB New Europe Holding B.V., Kingdom of the Netherlands

5. First Investment Bank (Fibank) FINVBGSF 12 422 677 12 714 058 12 932 120 13 055 009 13 186 654 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 7 608 858 7 789 916 7 871 229 7 891 195 8 017 131 CCB Group EAD, Republic of Bulgaria – 61.05%
7. ProCredit Bank, Bulgaria PRCBBGSF 3 579 594 3 743 202 3 750 859 3 889 039 4 096 606 ProCredit Holding AG, Federal Republic of Germany – 100%
8. Allianz Bank Bulgaria BUINBGSF 3 637 256 3 997 100 4 116 950 3 763 962 3 916 914 Allianz Bulgaria Holding JSC, Republic of Bulgaria – 99.9%
9. Investbank IORTBGSF 2 892 849 2 842 847 2 991 420 2 862 274 3 016 658 Festa Holding JSC, Republic of Bulgaria – 83.8%

Petia Ivanova Barakova-Slavova, Republic of Bulgaria – 10.68%

10. Bulgarian Development Bank NASBBGSF 3 459 767 3 073 175 3 171 250 3 080 974 2 829 432 Ministry of Innovation and Growth, Republic of Bulgaria – 100%
11. TBI Bank TBIBBGSF 1 740 899 2 096 750 2 282 477 2 433 944 2 663 458 TBIF Financial Services B.V., Kingdom of the Netherlands – 100%
12. International Asset Bank IABGBGSF 1 937 166 2 225 182 2 254 113 2 247 382 2 426 817 Dynatrade International Ltd, Republic of Bulgaria – 33%
13. Bulgarian-American Credit Bank BGUSBGSF 2 567 188 2 656 117 2 676 504 2 521 852 2 398 432 CSIF JSC, Republic of Bulgaria – 45.67%

LTBI HOLDINGS LLC, USA – 33.45%

14. Municipal Bank PLC SOMBBGSF 2 008 735 2 154 155 2 197 118 2 218 605 2 221 322 NOVITO OPPORTUNITIES FUND AGMVK, Principality of Liechtenstein – 96.51%
15. Citibank Europe, Bulgaria Branch CITIBGSF 1 891 001 1 832 315 1 979 499 1 829 131 2 009 098 Citibank Europe Plc., Republic of Ireland – 100%
16. D Commerce Bank DEMIBGSF 1 409 814 1 582 191 1 512 964 1 762 674 1 744 060 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 1 192 809 1 178 898 1 375 395 1 350 809 1 371 093 ING Bank N.V., Kingdom of the Netherlands – 100%
18. BNP Paribas S.A. – Sofia Branch BNPABGSX 855 941 872 986 859 273 861 723 768 516 BNP Paribas S.A., Republic of France – 100%
19. Texim Bank TEXIBGSF 586 449 596 903 581 830 599 154 608 090 Web Finance Holding AD, Republic of Bulgaria – 17.93%
20. Tokuda Bank CREXBGSF 457 075 459 660 464 937 467 168 473 680 Tokushukai Incorporated, Japan – 99.94%
21. T.C. Ziraat Bank, Sofia Branch TCZBBGSF 343 799 373 936 343 119 384 346 363 903 T.C. Ziraat Bankasi A.Ş., Ankara, Republic of Turkey – 100%
22. Varengold Bank AG, Sofia Branch VGAGBGSF 76 797 79 712 78 326 71 910 89 539 Varengold Bank AG, Federal Republic of Germany – 100%
23. PB Personal Finance by Postbank BPEFBGSF 878 972 963 210 989 151 122 587 80 220 Eurobank Bulgaria (Postbank) – 100%
24. Bigbank AS, Bulgaria Branch BIGKBGSF 16 288 15 176 15 307 15 177 16 820 Bigbank AS, Estonia – 100%

References

  1. ^ "Banks in Bulgaria, Jul-Sep 2022" (PDF). ISSN 2367-4970.
  2. ^ "Banks of Bulgaria, Oct-Dec 2022" (PDF).
  3. ^ "Banks of Bulgaria, Jan-Mar 2023 (BNB)" (PDF).
  4. ^ "Banks in Bulgaria, Apr-Jun 2023, BNB" (PDF).
  5. ^ a b "Banks in Bulgaria, Jul-Sep 2023, BNB" (PDF).