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, several banks offer their products via the Internet.

Bulgaria is also part of the Single Euro Payments Area (SEPA).

The following is a list of banks in Bulgaria.

Central bank

Development banks

Commercial banks

Аll amounts are in BGN thousand.

Rank

(2022)

Name SWIFT (BIC) Assets Dec 2021[1] Assets Mar 2022[2] Assets Jun 2022[3] Assets Sep 2022[4] Assets Dec 2022[5] Shareholders - over 10% (Dec 2022)
1. United Bulgarian Bank UBBSBGSF 15 530 276 16 064 702 16 541 941 16 598 935 17 527 277 KBC BANK N.V., Kingdom of Belgium – 99,92%
KBC Bank Bulgaria

(Merged into United Bulgarian Bank on 10.04.2023)[6]

RZBBBGSF 10 846 991 11 209 825 11 377 072 11 958 070 12 407 255
2. DSK Bank STSABGSF 24 412 967 25 117 592 25 218 205 27 213 192 28 967 838 OTP Bank RT, Hungary – 99.92%
3. UniCredit Bulbank UNCRBGSF 24 948 376 26 610 890 26 362 382 27 894 886 28 889 110 UNICREDIT S.P.A., Republic of Italy – 99.45%
4. Eurobank Bulgaria (Postbank) BPBIBGSF 14 490 094 14 918 142 14 775 360 15 650 085 16 365 976 Eurobank Ergasias S.A., Greece – 56,14%

ERB New Europe Holding B.V., Kingdom of the Netherlands – 43,85%

5. First Investment Bank (Fibank) FINVBGSF 11 268 870 11 518 355 11 817 493 12 422 677 12 714 058 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 7 383 943 7 480 212 7 462 538 7 608 858 7 789 916 CCB Group EAD, Republic of Bulgaria – 61.05%
7. Allianz Bank Bulgaria BUINBGSF 3 622 173 3 731 510 3 817 919 3 637 256 3 997 100 Allianz Bulgaria Holding JSC, Republic of Bulgaria – 99.89%
8. ProCredit Bank, Bulgaria PRCBBGSF 3 190 468 3 394 170 3 517 244 3 579 594 3 743 202 ProCredit Holding AG, Federal Republic of Germany – 100%
9. Bulgarian Development Bank NASBBGSF 3 412 189 3 420 528 3 419 505 3 459 767 3 073 175 Ministry of Innovation and Growth, Republic of Bulgaria – 100%
10. Investbank IORTBGSF 2 543 097 2 675 609 2 705 391 2 892 849 2 842 847 Festa Holding JSC, Republic of Bulgaria – 55.75%

Adil Said Ahmed Al Shanfari, Sultanate of Oman – 28.04%

Petia Ivanova Barakova-Slavova, Republic of Bulgaria – 10.55%

11. Bulgarian-American Credit Bank BGUSBGSF 2 198 692 2 481 662 2 391 253 2 567 188 2 656 117 CSIF JSC, Republic of Bulgaria – 45.67%

LTBI HOLDINGS LLC, USA – 33.45%

12. International Asset Bank IABGBGSF 1 911 730 1 914 172 1 916 158 1 937 166 2 225 182 Dynatrade International Ltd, Republic of Bulgaria – 33%
13. Municipal Bank PLC SOMBBGSF 1 927 908 1 992 424 1 938 794 2 008 735 2 154 155 NOVITO OPPORTUNITIES FUND AGMVK, Principality of Liechtenstein – 96.51%
14. TBI Bank TBIBBGSF 1 303 226 1 383 528 1 594 425 1 740 899 2 096 750 TBIF Financial Services B.V., Kingdom of the Netherlands – 100%
15. Citibank Europe, Bulgaria Branch CITIBGSF 1 182 028 1 187 721 1 529 585 1 891 001 1 832 315 Citibank Europe Plc., Republic of Ireland – 100%
16. D Commerce Bank DEMIBGSF 1 402 210 1 400 074 1 511 289 1 409 814 1 582 191 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 1 163 580 1 147 268 1 135 148 1 192 809 1 178 898 ING Bank N.V., Kingdom of the Netherlands – 100%
18. BNP Paribas Personal Finance S.A. - Bulgaria Branch BNPABGSX 776 691 779 588 840 108 878 972 963 210 BNP Paribas Personal Finance S.A., Republic of France – 100%
19. BNP Paribas S.A. – Sofia Branch BNPABGSX 638 727 755 977 826 408 855 941 872 986 BNP Paribas S.A., Republic of France – 100%
20. Texim Bank TEXIBGSF 536 816 521 983 537 159 586 449 596 903 Web Finance Holding AD, Republic of Bulgaria – 17.62%
21. Tokuda Bank CREXBGSF 429 746 447 427 457 234 457 075 459 660 Tokushukai Incorporated, Japan – 99.94%
22. T.C. Ziraat Bank, Sofia Branch TCZBBGSF 255 550 301 009 312 228 343 799 373 936 T.C. Ziraat Bankasi A.Ş., Ankara, Republic of Turkey – 100%
23. Varengold Bank AG, Sofia Branch VGAGBGSF 44 636 52 826 56 355 76 797 79 712 Varengold Bank AG, Federal Republic of Germany – 100%
24. Bigbank AS, Bulgaria Branch BIGKBGSF 5 767 11 644 15 920 16 288 15 176 Bigbank AS, Estonia – 100%

References

  1. ^ "Банките в България - Октомври – Декември 2021 - БНБ" (PDF).
  2. ^ "Banks in Bulgaria Jan-Mar 2022" (PDF).
  3. ^ "Banks in Bulgaria Apr-Jun 2022" (PDF).
  4. ^ "Banks in Bulgaria, Jul-Sep 2022" (PDF). ISSN 2367-4970.
  5. ^ "Banks of Bulgaria, Oct-Dec 2022" (PDF).
  6. ^ "KBC Bank Bulgaria merger into United Bulgarian Bank".
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