Inside Bulgaria's Easter Celebrations: Traditions Passed Through Generations
Today marks the joyous celebration of Easter, one of the most significant holidays in the Orthodox Christian calendar.
EFG Eurobank, one of Greece's major banks with Bulgarian subsidiaries, announced it is about to sell its 70% stake in Turkish unit Tekfen to Kuwait's Burgan Bank.
"EFG Eurobank announced that it is in advanced discussions with Burgan Bank from Kuwait to sell its full participation in Eurobank Tekfen," the Greek lender said in a bourse filing.
The terms of the transaction would be announced once a binding agreement is signed, Eurobank added.
Eurobank EFG is among the five Greek banks on the Bulgarian banking services market. It owns Postbank Bulgaria.
Greek banks hold nearly a 30% of the Bulgarian banking market, a 20% share of the bank loans and one-third of all deposits.
Some of the biggest lenders in Bulgaria are managed by Italy's UniCredit, Greece's National Bank of Greece, Hungary's OTP and Austria's Raiffeisen.
Other Greek banks present in Bulgaria include EFG Eurobank, Piraeus, Emporiki and Alpha Bank.
Experts have warned that Bulgaria, the European Union member boasting one of the the bloc's smallest budget deficit, risks seeing its banks sucked under by the fiscal sins of neighboring Greece.
Bulgaria's central bank and finance minister however have repeatedly tried to assuage fears over funds outflow from Greek bank subsidiaries in the country to headquarters in Greece, saying this is part of the free movement of capital.
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As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns
Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Bulgaria's long-anticipated entry into the Eurozone may face a delay, as the country is unlikely to meet the inflation criterion required for the introduction of the euro on January 1, 2025
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022