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
Last Days of the Lev: Coin Machines Swamped as Bulgarians Prepare for the Euro
With only days left before the euro replaces the lev, queues have begun forming across Bulgaria
Bulgarian Euro Coins: Design, Symbols, and Security Features
All euro coins share a common European side that shows the denomination, but each member state designs its own national side
Bulgaria Switches to Euro: Experts Recommend Card Payments for Smooth Start
With just 18 days to go until Bulgaria adopts the euro on January 1, consumer questions about payments are still coming in
Experts Warn: Euro Adoption in Bulgaria Will Hit the Wallets
Experts confirm that Bulgaria’s accession to the eurozone on January 1, 2026, remains on track, despite the recent government resignation
Scope Ratings Confirms Bulgaria’s A- Credit Score with Stable Outlook
Scope Ratings has completed its latest review of Bulgaria and confirmed the country’s long-term credit rating at A- with a stable outlook, alongside short-term ratings of S-1/Stable
No Budget, Big Consequences: Fiscal Council Flags Risks as Bulgaria Prepares for Extension Law
At the turn of the year, Bulgaria is preparing to enter 2026 without an approved state budget
