First in Bulgaria: Postbank Offers New Generation Mastercard UNIVERSE
On the eve of its 30th anniversary, Postbank launched the a new generation credit card.
Greek Euroboank, which owns 100% of Bulgaria's Postbank, will buy around 80 branches of Greek Alpha Bank in Bulgaria for EUR 1, according to a Eurobank official, as cited by Reuters.
The boards of the two banks are to meet Friday to finalize the deal.
Reuters informs that more than one-fifth of Bulgaria's bank assets are owned by Greek banks.
Eurobank Bulgaria had assets worth BGN 5.9 B by end-March 2015 and its Q1 net profit stood at BGN 20.8 M.
Alpha Bank is the only one of all Greek banks functioning in Bulgaria to not operate as a subsidiary but as a branch, meaning that deposits at the bank are guaranteed by the Greek deposit guarantee scheme, according to reports of dnevnik.bg.
Although converting leva into euros may appear straightforward - just divide by the fixed rate of 1.95583 - reality brings far more complexity
The Bulgarian National Bank will stay the course with its conservative and stability-oriented monetary policy even after the country enters the eurozone
The demand for euros in Bulgaria has surged by about 50%
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Romania continues to struggle with VAT collection, falling behind all other EU member states
The Constitutional Court has already announced that it will rule on the issue raised by President Rumen Radev regarding a potential referendum on the euro
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