Bulgaria: Shares Prices of FiBank Down to Nearly BGN 1.80
Business | December 2, 2020, Wednesday // 15:09
Bulgaria's C-Bank Oks FIB Acquisition of MKB Unionbank
- Tweet
Send to Kindle
Bulgaria's central bank BNB said on Thursday it has approved First Investment Bank's acquisition of 100% of the shares of MKB Unionbank EAD.
"The deal is yet another major consolidation on the Bulgarian banking market following the successful merger of Bulbank, HVB Bank Biochim and Hebros Bank, which was a positive contribution to the stability and confidence in the Bulgarian banking system," the central bank said in a statement.
After the acquisition of MKB Unionbank EAD, the assets of FIB reach over BGN 8.5 B, according to reports of the buyer.
The consultancies for the deal were international financial advisor Lazard and First Financial Brokerage House.
In mid-March, FIB was the only candidate buyer who filed a binding offer for MKB Unionbank.
Another candidate to buy MKB Unionbank was Hungarian OTP Bank, owner of DSK Bank in Bulgaria.
After the acquisition, FIB ranks third by assets, preceded by DSK Bank with BGN 8.9 B and Unicredit Bulbank with BGN 12.7 B.
The value of the deal has not been disclosed.
Related Articles:
Bulgaria's Govt to End State Aid Contract with Fibank
The Bulgarian government has allowed the Finance Minister to end a contract with First Investment Bank (Fibank) under which the financial company received state aid to prevent a collapse.
Bulgaria’s Financial Watchdog Rejects IPO Prospectus of Roo’bar Producer
Bulgaria’s Financial Supervision Commission (FSC) has refused to approve the IPO prospectus of Smart Organic AD, a producer and distributor of organic products.
Business | October 6, 2015, Tuesday // 13:47
Turnover of Bulgarian Stock Exchange Down 68% Y/Y in H1, 2015
The Bulgarian Stock Exchange-Sofia (BSE-Sofia) has reported a 68% decrease in turnover to BGN 250,6 M on the year in the first half of 2015.
Business | July 3, 2015, Friday // 11:09
IFC Meeting Features Bulgarian Corporate Governance Models
A meeting of the International Finance Corporation (IFC) taking place June 17-26 has included a show of succesfull models of Bulgarian corporate governance.
Bulgarian Drug Distributor Sopharma Trading AD Expands into Serbia
Sopharma Trading AD, a leading Bulgarian distributor of pharmaceuticals, is expanding into Serbia, according to a media statement of the company to the Bulgarian Stock Exchange-Sofia (BSE-Sofia).
Business | June 4, 2015, Thursday // 12:21
Fiscal Council: Bulgaria’s Adoption of the Euro Proceeding Without Major Issues
Bulgaria’s transition to the euro is proceeding smoothly, marking a major step in the country’s full integration into the European Union, according to an analysis by the Fiscal Council.
Bulgaria Reports Smooth Euro Rollout: Over 58% of Leva Withdrawn, Market Stable
The Coordination Center for the Euro Mechanism provided an update on the implementation of the euro in Bulgaria, highlighting that the process is progressing in an orderly and coordinated manner
Bulgaria Says EU-Mercosur Deal Won’t Harm Its Economy
Bulgaria’s outgoing Agriculture Minister Georgi Tahov has assured that the European Union’s trade deal with Mercosur will not negatively affect the country’s economy, pointing to the very limited trade between Bulgaria and the South American bloc.
Chairman of Bulgaria's Fiscal Council: Euro Transition Smooth, Prices Already Raised and Won’t Drop
Simeon Dyankov, chairman of Bulgaria’s Fiscal Council, has warned that price increases implemented by traders are likely to remain in place despite new laws and fines
Bulgaria Boosts Postal Euro Exchange with €25 Million in Extra Funds
The Bulgarian government has approved an additional €25 million in revolving credit for Bulgarian Posts EAD to support the ongoing exchange of levs into euros at post offices
Bulgarian National Bank Projects Stronger Domestic Growth Through 2027
The Bulgarian National Bank (BNB) has updated its GDP growth forecast for Bulgaria for the 2025–2027 period, showing a more optimistic outlook than its June 2025 projections.
