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.
Two leading global credit rating agencies, Fitch Ratings and S&P Global Ratings, have raised Bulgaria’s long-term foreign currency credit rating to ‘BBB+’ with a stable outlook, marking the highest level in the medium investment-grade tier
The adoption of the euro inevitably brings a degree of unease and uncertainty, much like the introduction of the currency board in the 1990s
Loan interest rates in Bulgaria are expected to stay stable even after the transition to the euro
The Ministry of Finance has introduced an online currency conversion calculator, now available on the official euro adoption website for Bulgaria - evroto.bg
The Bulgarian National Bank (BNB) is launching the minting of Bulgarian euro coins this week
Gold has always had an allure that goes far beyond its shine.
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe