Overview of Banks in Bulgaria
The Bulgarian National Bank (BNB) serves as the central monetary authority in Bulgaria. In 2007, the BNB became a full member of the European System of Central Banks, actively participating in the decision-making process of the European Union relating to banking and finance matters. It oversees banks in Bulgaria and maintains the stability of the local currency.
In 2017, Moody’s Investor Services said the outlook for banks in Bulgaria would benefit from high capital buffers, rising profits, and stable funding. However, the domestic banking sector continues to face high asset risk levels, primarily arising from corporate lending and the slow resolution processes for nonperforming loans.
For anyone considering a banking career in Bulgaria, this list of banks in Bulgaria is a helpful guide on where to start. To learn more, see our list of financial institutions.
The top banks in Bulgaria are:
Established in 2007, UniCredit Bulbank is the product of the merger among three UniCredit Group-owned banks: Bulbank, Hebros Bank, and Holcim. UCB is the largest of the banks in Bulgaria in terms of assets, deposits and loans, and shareholders’ equity. Headquartered in Sofia, it employs about 3,600 individuals and manages 170 branches across the country.
Revenue: BGN 481.5 million (2017)
Net income: BGN 297.65 million euros (2017)
Total assets: BGN 19.1 billion euros (2017)
Founded in 1951, DSK Bank serves retail customers and corporations in Bulgaria, offering individual banking, corporate banking, and private banking services. The bank operates as a subsidiary of OTP Bank Group, one of the biggest independent financial services firms in Central and Eastern Europe. Based in Sofia, it manages 93 branches, 100 affiliated offices, 119 bank offices, nine regional centers, 20 business centers, and 40 financial centers.
Revenue: BGN 476.9 million (2017)
Net income: BGN 254.61 million (2017)
Total assets: BGN 12.15 billion (2017)
First Investment Bank (FiBank)
First Investment Bank (FiBank) offers a wide range of financial products and services to individual and corporate clients in Bulgaria. Incorporated in 1993, FiBank is the largest locally owned of the banks in Bulgaria. The bank serves 380,000 individuals and 21,000 corporate bodies, and oversees a network of 21 branches and 68 offices across the country.
Revenue: BGN 356.17 million (2017)
Net income: BGN 102.61 million (2017)
Total assets: BGN 8.92 billion (2017)
Postbank, legally known as Eurobank Bulgaria, offers retail, investment banking, and corporate banking services in Bulgaria. An autonomous Bulgarian bank, it is fully funded through the local and international market. The bank is part of Greece-based Eurobank EFG.
Revenue: BGN 305.24 million (2017)
Net income: BGN 119.57 million (2017)
Total assets: BGN 6.82 billion (2017)
United Bulgarian Bank
United Bulgarian Bank was founded in 1992 following the merger of 22 regional commercial banks in Bulgaria. Privatized in 1997, UBB holds a full license for domestic and international banking and financial operations. Headquartered in Sofia, it manages 190 business units across Bulgaria.
Revenue: BGN 283.44 million (2016)
Net income: BGN 112.09 million (2016)
Total assets: BGN 6.84 billion (2016)
Established in 1994, Raiffeisenbank (Bulgaria) provides a comprehensive range of financial products and services to retail clients, institutional clients, SMEs, and large corporate customers in the country. The bank operates as a fully owned subsidiary of Austria’s Raiffeisen Banking Group.
Revenue: BGN 204 million (2017)
Net income: BGN 135.07 million (2017)
Total assets: BGN 7 billion (2017)
Societe Generale Expressbank
Founded in 1993, Societe Generale Expressbank serves individual and business clients in Bulgaria, offering retail and corporate banking financial products and services. The bank is a member of the Societe Generale Paris. Based in Varna, it manages seven regional groups and 140 offices, as of 2016.
Revenue: BGN 176.2 million (2017)
Net income: BGN 106.7 million (2017)
Total assets: BGN 6.43 billion (2017)
Central Cooperative Bank
Central Cooperative Bank was incorporated in 1991, with the Central Cooperative Union, regional cooperative unions, and over 1,100 cooperative organizations as its founders. Over the years, CCB was able to transform itself from a cooperative-focused organization into one of the most successful universal commercial banks in Bulgaria today. As of 2016, the bank operated a network of 47 branches, 48 outlets, 211 bank representative offices, and an international branch in Cyprus.
Revenue: BGN 144.8 million (2017)
Net income: BGN 35.83 million (2017)
Total assets: BGN 5.41 billion (2017)
Allianz Bank Bulgaria
Allianz Bank Bulgaria was established in 1997 in Bulgaria as Trading Bank Bulgaria Invest. In 2003, the bank adopted its current name after Allianz Bulgaria Holding’s acquisition of Trading Bank. Headquartered in Sofia, the bank employs 812 individuals and oversees more than 100 branches throughout the country.
Revenue: BGN 74.8 million (2017)
Net income: BGN 27.57 million (2017)
Total assets: BGN 2.56 billion (2017)
Piraeus Bank Bulgaria
Founded in 1916, Piraeus Bank Bulgaria offers retail banking, corporate banking, SME banking, and investment banking in the country. The bank is a member of Piraeus Bank SA (Greece). Based in Sofia, it manages a central office and 75 branches as of end-2016.
Revenue: BGN 70.2 million (2017)
Net income: BGN 14.5 million (2017)
Total assets: BGN 3.04 billion (2017)
Careers in investment banking
To break into investment banking, there are several important things to focus on. These include networking, resume, experience, and financial modeling skills. To learn more, explore our interactive career map…. For banking careers, you will have a significant edge over the competition with our financial modeling courses.
This has been a guide to the top banks in Bulgaria. For anyone looking for a career in banking, this list is a great place to start your networking. Please also see these additional resources: