Bulgaria: Shares Prices of FiBank Down to Nearly BGN 1.80
Business | December 2, 2020, Wednesday // 15:09
Bulgaria's First Investment Bank Buys MKB Unionbank
Business | August 15, 2013, Thursday // 11:30
- Tweet
Send to Kindle
First Investment Bank has signed an agreement with Hungarian MKB Bank for the acquisition of 100% of the shares of MKB Unionbank EAD, according to a letter of FIB to the Financial Supervision Commission and the Bulgarian Stock Exchange.
The acquisition is to be finalized after the approval of the respective regulatory bodies, investor.bg informs.
After the acquisition of MKB Unionbank EAD, the assets of FIB will 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 will rank third by assets, preceded by DSK Bank with BGN 8.9 B and Unicredit Bulbank with BGN 12.7 B.
FIB ranks third by assets before the deal, followed by United Bulgarian Bank with BGN 6.7 B, Corporate Commercial Bank with BGN 6.3 B, Raiffaisenbank Bulgaria with BGN 6 B, and Eurobank Bulgaria with BGN 5.4 B
The value of the deal has not been disclosed.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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
IMF Director Urges Bulgaria Not to Miss Euro Adoption Chance
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
BNB: Bulgaria's GDP to Rise by 2.2% in 2024, with Average Annual Inflation at 3%
In its latest macroeconomic forecast released on Tuesday, the Bulgarian National Bank (BNB) anticipates a 2.2% increase in Bulgaria's Gross Domestic Product (GDP) for the year 2024, compared to 1.8% in 2023
Insights into Bulgaria's Banknote Circulation Trends Before Eurozone Entry
As Bulgaria inches closer to potential entry into the Eurozone, a closer examination of the nation's banknote circulation provides valuable insights into its monetary landscape
Bulgarian Industry Leader Sounds Alarm: EU Economy Falls Behind
Vasil Velev, Chair of the Bulgarian Industrial Capital Association (BICA), delivered a stark assessment of the European Union's (EU) economic performance, highlighting concerns over its lackluster growth compared to global counterparts
Business | April 15, 2024, Monday // 17:50
Germany Emerges as Top Destination for Bulgarian Tourists
Recent data from the German Tourist Board show a discernible trend, indicating an increased interest among Bulgarians in visiting Germany
Bulgaria's Inflation Slows to 3% in March, Marking Lowest Rate Since July 2021
In a recent report by the National Statistical Institute, Bulgaria's annual inflation rate for March witnessed a notable deceleration, settling at 3% compared to the previous month's figure of 3.0%
