BANK AUSTRIA KREDITANSTALT PLANS TO EXPAND IN BULGARIA

Business | December 20, 2001, Thursday // 00:00

The Bank Group “Bank Austria Kreditanstalt” plans to expand in Bulgaria. The Sofia branch of the bank, which will grow into a subsidiary, was granted a full banking licence, officials from the bank announced. The Bank Group “Bank Austria Kreditanstalt”, which is responsible for the markets of Central and Eastern Europe within the “HFB Group”, will launch its operations in the second quarter of 2002. Currently the group is represented in Bulgaria through one branch in Sofia and representative offices in Russe and Burgas. The new bank will be a 100% subsidiary of “Bank Austria” and will operate under the name of “HFB-Bulgaria”. “HFB-Bulgaria” will focus on operations with corporate clients, treasury operations and citizens servicing. The bank plans to open a second branch in Sofia very soon. It plans to open branches in the main cities in the country.
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