Wizz Air Relaunches Direct Flights Between Sofia and Tel Aviv
Wizz Air has resumed its flights from Sofia to Tel Aviv
Bulgaria Outstands in SEE Penetration of Foreign Banks
Business | March 13, 2006, Monday // 00:00
- Tweet
Send to Kindle
Bulgaria appears to top the South East European region in holding the highest percentages of penetration of foreign banks.
This is largely due to the completed privatisation of banks in the country and a sequence of mergers within the banking sector, according to an analytical document by the Union of Greek Banks (EET).
Foreign banks control two-thirds of the assets of the banking system in the countries of South East Europe, with Austria controlling 25%, followed by Greece and Italy with 13% each.
The highest percentages - above 90% - are on the tally of Bulgaria and Albania, followed by Romania with 60% where the process of privatisations is continuing.
The five largest Greek banks have made overall investments of more than EUR 2 B the region, establishing a network of approximately 950 branches that employ 16,000 people. These Top 5 are commanding more than 16% of the banking market share in South East Europe, the report said as quoted by ANA news agency.
This is largely due to the completed privatisation of banks in the country and a sequence of mergers within the banking sector, according to an analytical document by the Union of Greek Banks (EET).
Foreign banks control two-thirds of the assets of the banking system in the countries of South East Europe, with Austria controlling 25%, followed by Greece and Italy with 13% each.
The highest percentages - above 90% - are on the tally of Bulgaria and Albania, followed by Romania with 60% where the process of privatisations is continuing.
The five largest Greek banks have made overall investments of more than EUR 2 B the region, establishing a network of approximately 950 branches that employ 16,000 people. These Top 5 are commanding more than 16% of the banking market share in South East Europe, the report said as quoted by ANA news agency.
EBRD Doubles Investments in Bulgaria, Boosting Key Sectors in 2024
The European Bank for Reconstruction and Development (EBRD) has significantly increased its investments in Bulgaria for 2024
Wizz Air Expands Its Network with New Year-Round Flights from Varna
Wizz Air has announced the launch of a new and exclusive route from Varna to Leipzig, Germany, marking a significant expansion of its network
Stable Finances Pave the Way for Bulgaria’s Next Eurozone Steps
Bulgaria is expected to request extraordinary convergence reports from the European Commission and the European Central Bank for eurozone entry
Bulgaria’s Eurozone Entry: January 1, 2026, Most Likely, Says Asen Vassilev
Bulgaria has met the inflation criterion required for entry into the Eurozone, with an average annual inflation rate of 2.6% over the last 12 months
Inflation in Bulgaria for 2024 Stands at 2.2%, Meeting Eurozone Requirements
Bulgaria's National Statistical Institute has reported that inflation for 2024 stands at 2.2%, a slight increase from the previous year
