Another 3 banks signed frame contracts with the Ministry of Finance for servicing the budget. The new banks are United Bulgarian Bank, Biohim and Municipal Bank. Thus their total number becomes 17. In the end of the last year the Ministry of Finance dealed a contract with Bulbank, Bank DSK, Hebrosbank, Expressbank, Economic and Investment bank, Promotional bank, Unionbank, Rosseximbank, Trade bank Bulgaria-invest, Central Cooperative Bank, First East International Bank, Raiffaisenbank-Bulgaria, First Investment Bank, Corporate bank.
Source: Sega (04.01.2001)

As of February 1, 2001 Economic and Investment Bank will take the accounts of the National Security Institute in 7 from 28 offices in the State - Sofia, Blagoevgrad, Dobrich, Haskovo, Plovdiv, Kurdzhali and Pleven. At the moment in these regions are UBB JSC and Hebrosbank JSC.
Source: Trud (16.01.2001)

The amount of BGN 850 000 will be invested in Pirinsko Pivo JSC - Blagovgrad under the program energy effectiveness, the brewery's Executive Director Mr. Petar Alexandrov reported. United Bulgarian Bank JSC has granted the amount of BGN 600 000 as a credit within 4 years. 50 per cent of the credit has been guaranteed by the American Government's programme for energy effectiveness.
Source: BTA (18.01.2001)

Another 3 banks will service the transit accounts and the payments from the Single account of the distributors with budget credits. These are Bulgarian Post Bank, Eurobank and Hios bank. The Minister of Finance Mr. Muravey Radev signed contracts with them in the end of the last week. In the beginning of the year in the service were included another three banks - United Bulgarian Bank, TB Biohim and Municipal Bank. During last year there were concluded contracts with totally 14 banks.
Source: Sega (22.01.2001)

Municipal Bank JSC - Sofia opened a new branch in Stara Zagora, was reported from the bank. The new branch is located in Stara Zagora city-hall and will serve mainly the municipal budget. The new branch will execute also the transactions, which have been done up to now by United Bulgarian Bank JSC.
Source: Standart (23.01.2001)

The Board of Directors of United Bulgarian Bank elected Mr. Hristos Katzanis for Executive Director of the bank. He has so far been only a member of the Board of Directors of UBB and also was Regional Director of the National bank of Greece for the Balkans. Mr. Stilian Vutev is a Chief Executive Director and Mrs. Radka Toncheva - Executive Director. Mr. Douglas Drydan was dismissed from the position Operative Director.
Source: Pari (29.01.2001)

In connection with reorganization the activity of the branch net of BNB, the Ministry of Finance temporarily stopped as of February 2 the sale of personless Securities that will be used for direct sale to the citizens, was reported from the Ministry of Finance. The change affect the sale in the regional cash-boxes of BNB in Haskovo, Rousse, Plovdiv, Varna and Pleven. The Ministry of Finance is negotiating with United Bulgarian Bank for concluding a contract for sale of Securities from the cash issues of citizens and for taking the registers and their service.
Source: BTA (02.02.2001)

One of the biggest re-insurance companies in the world - Muenich Re will buy within a month another 7 per cent of Orel G holding JSC and will possess the blocking quote of about 27 per cent in it, according to a decision of the General Meeting. At the Meeting was decided the capital to be raised up to BGN 22.5 million with an issue of 7.5 million new shares with face value BGN 1 per share.
Source: Dnevnik (26.02.2001)

The Board of Directors of Himimport JSC managed to space out the credits of the company that were taken from trade banks. The company spaced out its debts to TB Biohim JSC by the end of November that are in amount of USD 700 000. The debt to UBB was also spaced out by the middle of the year and it amounts to over USD 900 000. There is also an agreement with First Investment Bank JSC for payment of EUR 1.25 million loan.
Source: Monitor (26.02.2001)

The General Meeting of Bulgarian Post Bank (BPB) elected Mr. Haralambos Kirkos for member of the Supervisory Board of the bank. According to preliminary data of the bank, its net profit is about BGN 2 million. The Executive Director of the bank Mr. Vladimir Vladimirov stated that the total amount of the assets of BPB in November 2000 exceeded BGN 500 million which graded it among the banks from the first group according to the criteria of BNB. The credits of the bank are about BGN 180 million which is 33.5 per cent from the assets of the bank.
Source: BTA (28.02.2001)

There is no more minimum limit of BGN 50 for purchases in the objects of Metro. The limit is removed because it does not exist in any of the other countries where the German company for trade of the type cash and carry holds objects. The purpose of this requirement was to be attracted the big clients - retail traders, hotel-keepers, owners of restaurants, companies. The cards for purchases remain. The twentieth terminals of United Bulgarian Bank are installed in the stores in Sofia. They allow the clients to pay by debit cards. From Metro comment that the competition of the Austrian Billa stimulates them. They think that other big trade chains investigate the opportunities for entering the Bulgarian market. Examples for this are the British Tesco, the French Carfur, the Turkish Ramstore. Metro plans distribution of more Bulgarian products in the stores of the company around the world. Bulgarian wines are already offered in the stores in Belgium and Holland.
Source: Sega (16.03.2001)

The shareholders of Celhart - Stamboliiski voted at the General Meeting the establishment of a pledge of a part of the trade company in favour of United Bulgarian Bank (UBB). The bank granted to the company a credit of BGN 2.167 million over the last year and the decision of the General Meeting is necessary because of the new Securities Law since Celhart is a public company. The credi is with investment character.
Source: Capital (19.03.2001)

First Investment Bank is starting to grant mortgage credits as of April. The credit portfolio of the bank is BGN 172 million in accordance with the international accounting standards and 41 per cent of it is in the field of the trade and 26 per cent for the industry. As of February the assets of the bank amounted to BGN 373 million. The bank has B grade from the international credit agency Standard & Poor's. In 2000 the assets of the bank increased with 57 per cent up to BGN 319 million. As of the end of December FIB reported a net profit of BGN 8 996 603.
Source: Pari (23.03.2001)

United Bulgarian Bank (UBB) considers to distribute its residual annual profit as a dividend for a second consecutive year, stated the Chief Executive Director of UBB Mr. Stilian Vutev. According to the national accounting standards the profit of the bank for 2000 is BGN 29.7 million but in accordance with the international accounting standards - BGN 26.14 million. In 2000 UBB reported an increase of the assets with BGN 17.5 million and reached BGN 1.2 billion. The return of the assets is 2.3 per cent and return of the capital - 11.3 per cent. The amount of the deposits as of December 2000 was BGN 938.4 million. The credit portfolio of the bank is BGN 254 million. The bank started to grant mortgage credits in currency with a maximum amount USD 50 000 and deadline for payment - 20 years.
Source: BTA (23.03.2001)

At its regular General Meeting Blagoevgrad-based brewery Pirinsko pivo JSC decided to increase the capital of the company with BGN 200 000 up to BGN 582 072, stated the Exceutive Director of the company Mr. Petar Alexandrov. He said that the new shareholders are neither banks nor companies from the brewery branch but did not point names. Pirinsko pivo JSC has invested over BGN 800 000 since the beginning of the year in new energy system that is expected to reduce considerably the expenses of the company for electriciy, water and consumatives.
Source: Dnevnik (23.03.2001)

The National Bank of Greece and United Bulgarian Bank (UBB) are planning a partial merger that will give the opportunity of financial operations on a large scale. The two banks are planning to finance co-operatively the construction of big infrastructure projects in Bulgaria. This was stated by the two Directors of the two credit institutions Mr. Stlian Vutev and Mr. Hristos Katzanis. By April 9 the branches of the National Bank of Greece in Plovdiv and Bourgas will merge in UBB which since August 2000 has been a part of the system of the Greek bank. The funds that will be granted by the 2 banks will be used in development of the infrastructure in the field of the energetics and will also be attracted another local banks.
Source: Monitor (23.03.2001)

The total amount of the used short-term credits from Rousse chemical company Orgachim is in amount of BGN 569 490 from UBB.
Source: CMP (31.03.2001)

The total amount of the long-term debts of Pirinsko pivo JSC - Blagoevgrad are for BGN 600 000 - a credit from UBB. The company also has short-term debts to UBB in amount of BGN 340 000, BGN 805 000 to Zlaten lev holding and Traversa limited - BGN 152 000.
Source: CMP (31.03.2001)

As of May 1 all workers in LUKoil-Neftohim will receive their salaries through debit cards. The Management of the refinery dealed with two banks - UBB and Raiffeisen through which will be executed the transfers of the labour remunerations. Each clerk of the plant will be able to choose one of them by April 10 when is the deadline for submitting of applications. The two financial institutions presented the most beneficial conditions for the workers, was reported from the company.
Source: Pari (05.04.2001)

Municipal bank expects experts from the worldwide rating agency Standart&Poor's in order to actualize its rating, was reported from the company. The Executive Director of Municipal bank Ms. Vania Vassileva stated that the grade of the bank then was B with a positive prospective and the expectations are either it to be kept the same ot to be increased to B+. With B+ are only two banks in Bulgaria - Bulbank and UBB. The high grade of Municipal bank is due to its good management and the fact that 67 per cent from the capital are property of Sofia municipality and the municipality is considered to be an accurate debtor.
Source: Dnevnik (10.04.2001)

The biggest banks in Bulgaria according to the methodology of BNB that are included in the first group and have a total amount of assets over BGN 800 million are Bulbank, United Bulgarian Bank and DSK Bank. They hold about 50 per cent from the assets in the bank system, attracted over 51 per cent from the deposists and generated 85 per cent of the total profit of the banks in the State. These banks granted only 36.43 per cent from the granted credits for 2000.
Source: Dnevnik (11.04.2001)

The company Pirinsko pivo JSC is at the third place in spite of its restrictions for advertising expenses. According to the data of the Union of brewers in Bulgaria the share of Pirinsko pivo for the first quarter of 2001 is 8.87 per cent and the company is placed after Interbrew and Brewinvest. Over 2000 were produced 34 800 t beer, for 1999 the quality is 17 200 t while in 1998 and 1997 were sold respectively 8 500 and 4 700 t. The planned production for this year is 40 000 t.
Source: Dnevnik (19.04.2001)

On March 29, 2001 the new owners of First Private Bank - Yorset holdings Bulgaria SP Ltd. sent a letter to the Minister of Economy Mr. Petar Zhotev with which they inform that the bank had granted a currency loan to Balkancar holding with a contract for a bank credit as of February 11, 1994. The amount of the debt, calculated as of March 31, 1997 is USD 13 737 315. With a contract as of March 31, 1997 United Bulgarian Bank sold to First Private Bank its receipt from Balkancar holding that amounts to USD 240 656.
Source: Banker (23.04.2001)

Until recently the companies have to transfer their taxes only through banks. From this year on thay also may pay the sums cash in the tax offices. Nevertheless the payments still are mainly through bank. The tax offices work with 6 banks. They are TB Biochim, TB Hebros, Expressbank , Bulbank, UBB and Bank DSK.Bulbank attends Bulgargas, the management of the air traffic. The same bank attends also the Ministry of Defence, NEC, BSR .
Source: Sega (23.04.2001)

The big clients of BTC want a ceaseless service to be introduced and some reductions for use of definitive amount of hired lines. The quality of the services, which are offered to the clients is becoming better, but the company is dropping behind in respect of the cooperative agreement, said the technical manager of UBB Mr. Svilen Ivantchev. The bank uses 300 hired lines and one interruption for only 4 hours may result seriously. BTC offers now service that allows any technical problem to be solved in 24 hours. The manager of the company said that he is expecting that term to be only one hour by the end of the year. 20 managers of the company will participate in course in KPN. 74 per cent of the profit from the hired lines comes from the mobile operators - Mobiltel 38 per cent, Mobikom - 32 per cent and gukis 5 per cent.
Source: Standart (23.04.2001)

679 000 people in Bulgaria have credit cards, was reported from BORIKA. In Bulgaria credit cards are offered by BNP-Dresdnerbank, Bulbank, UBB, First eastern international bank and First investment bank. The number of BORIKA cards is 650 000 and Visa - 21 350.
Source: ComputerWorld e-Daily (24.04.2001)

The General Meeting of the United Bulgarian Bank (UBB) voted the profit for 2000 to be distributed as a dividend. The profit after provisions and taxation is over BGN 29.7 million. From them BGN 96 750 will be allocated in Reserve fund and the rest of BGN 29.6 million - distributed as a dividend. The income per share is 39 per cent. The Board of Directors of UBB remains unchanged. The General Meeting approved the annual accountant report of the bank for 2000 which is certified in accordance with the national and international accounting standards. For 2001 for auditor of the company was selected Deloitte & Touche.
Source: BTA (02.05.2001)

The Association of the trade banks will vote at the General Meeting to reduce the membership fee for its regular members from BGN 8 000 to BGN 7 000, for the associated - from BGN 4000 to BGN 3500 and the initial contribution for all members - from BGN 2000 to BGN 1000. At the General Meeting presented 24 from 26 regular members and 2 associated from totally 4. Mr. Momchil Andreev was dismissed from the Board of Government. Except him from the Board of Government was also dismissed Mr. Ivan Radev from Unionbank. The new persons to enter the management are: Anna Sabeva, manager of First Eastern and International Bank, and Tsvetan Tsekov - CEO of Biohim. According to the adopted yesterday regulations, the Control Board drops out of the association's structure. The finance report for 2000 of the Control Board and the budget for the new finance year were also approved.
Source: BTA (04.05.2001)

The selling of the bonds of machine-building plant M+S Hidraulic failed, became clear after the meeting of the Board of Directors of the company. The reason is that the 2 banks with which it negotiated to take the bigger part of the shares, will not execute their intentions. The producer of hidraulic pumps found a buyer for about 1/4 of the bonds but UBB and Post bank that took serious interest in the issue, at last restrained. The plant realized a profit for 2000 in amount of BGN 1.231 million. The net sales of the company are BGN 24.761 million. The major shareholders of M+S Hidraulic are the former privatization funds Stara planina holding and Industrial capital holding.
Source: Banker (08.05.2001)

At the General Meeting which will take place on June 23, 2001, the resort complex Albena will take the decision the issue of bonds that the company launched in the beginning of August 2000 to become public. In this way the company hopes to increase additionally the attraction of its bonds and to attract the interest of the smaller investors. the company also plans to issue a second bond issue but for the time being there are not more details about its parametres and the way at which will be sold. The first bond issue of the company was for a period of 2 years, in amount of BGN 5 million with 9 per cent profitability at the base of one year. The face value of the bonds is BGN 1.
Source: Dnevnik (09.05.2001)

United Bulgarian Bank in co-operation with American Agency for International Development are starting a project Municipal programme for energy efficiency, was reported from the bank. The official presentation of the project will be on May 16 in Sofia. Municipalities, municipally-owned and state-owned companies in Bulgaria with a property of the State under 49 per cent that develop projects for energy efficiency may get use of this project. The specific indicators on this crediting is the application of the mechanism for guarantee of credits Development Credit Authority -DCA).
Source: Monitor (14.05.2001)

The three trade banks with assets over BGN 800 million - Bulbank, DSK and UBB that are included in the so called first group, reported a current profit of BGN 133.435 million. This is almost 85 per cent of the whole profit of the bank sector that amounts to BGN 157.588 million. Meanwhile the assets of the banks from this group amount to BGN 5.3 million. Their assets as of March were BGN 5.5 billion. The main reason for the reported current profit of these banks is due to the freed provisions in amount of BGN 133 million.
Source: Monitor (15.05.2001)

United Bulgarian Bank signed a contract in amount of USD 1.3 million with the Greek IT company Informer for supply of services. This is the second agreement of UBB with Informer after this one concluded in February in amount of USD 7 million. According to it for 18 months Informer will introduce the information bank system Globus in the branches of UBB.
Source: ComputerWorld e-Daily (16.05.2001)

United Bulgarian Bank will finance projects of Peshtera and Sevlievo for energy efficiency. The funds will be granted at the line of the Municipal programme for energy efficiency for Bulgaria Electrotec Concepts. The loan is compensated by the American mechanism for guarantee of credits (DCA) and UBB. The fund guarantee in favour of the bank is of the Bulgarian mission of USAID and is in amount of 50 per cent from the principal. The loans are with a deadline of payment from 3 to 5 years.
Source: Standart (17.05.2001)

Kujstendil District Court declared in insolvency the plant Konis JSC and appointed for its syndic Mr. Vesselin Rashkov. Thie court arguments that have dated since 1998. This is about USD 150 000 that were taken from Konis in connection with its investment programme. Only several days ago 52 per cent from the shares of the company were bought by the German company Kelpe.
Source: Pari (30.05.2001)

Kauchuk, Pazardjik is planning the establishment of a collateral of the trade company as a guarantee for bank loan. The amount is not known and still is negotiating with United Bulgarian Bank. The credit will be used mainly for purchase of equipment. The company is realizing its investment programme with own funds that is the reason the profit to be reinvested entirely. The privatized company produces rubber, bicycle tyres and transport rubber lines. According to the accountant report the profit of the company for 2000 is BGN 1.452 million at a loss of BGN 3.228 million in 1999. The company does not have long-term debts now. in 1999 the MEBO Kauchuk-97 acquired 75 per cent of the capital of Kauchuk for USD 10.5 million.
Source: Dnevnik (07.06.2001)

United Bulgarian Bank sold Mlechen put, Nova Zagora to the company Hybernia vittela JSC in the end of May. The new owner acquired 100 per cent of the shares of the milk-processing company which according to sources from the branch is one of the well-working in Bulgaria. The price of the deal is kept in secret but probably UBB received about BGN 3 million. The new owners have to pay off the old debts of Mlechen put. The biggest creditor of the company is UBB. The buyer Hybernia vittela JSC was registered in 1999. It is interesting that Hursev co was the major owner in it at the establishment.
Source: Capital (11.06.2001)

Sysware takes the equipment of the new offices of Pireos Bank in Sofia, Plovdiv and Pleven, which includes supply and fitting of AS400 servers of IBN, workstations, net, telephone mains. The company works eith Germanos, Globul, UBB and Post Bank.
Source: ComputerWorld e-Daily (02.07.2001)

Liquidator has ruined munition plant in Montana. Supervisor appointed by the Court announced the financial state of the plant. Creditors of the PIMA are UBB, The State Receivables Collection Agency /SRCA/, Electrodistribution. The liquidator - Mr. Mladen Mladenov has saled the assets of the plant under their price.
Source: Standart (06.07.2001)

HPS Maritza Istok 2 declares an auction. It will be for rent of real estate of 10 sq.m. in the area of the HPS. The auction will be with secret bidding. The deposit for participation is BGN 1000 applied in the deposit account of the comapny.
Source: State Gazette (13.07.2001)

The sale of Pima was stopped because the deal is not profitable, announced Mr. Krasen Krastev. The weapon company was declared in insolvency. The biggest lender of the company is the state. The debts of Pima to the State Reserve are BGN 7.5 millions, BGN 2.2 millions is the debt to NSI and BGN 5.5 millions is to UBB.
Source: Standart (19.07.2001)

Montana regional court cancelled the procedure of insolvency of Pima JSC - Montana. The decision may be appealed in Sofia Appeals Court. The debts of the company amount to BGN 20 million.
Source: Democracy (06.08.2001)

Sofia City Court issued in the beginning of August guarantee orders for distrant on the building of TZUM and for distraint pf the bank accounts of the owner of the shop - the offshore company Rigent in Hebrosbank, UBB and Reifaisenbank. The measure was taken because of debts to the construction company Beaston energy in amount of USD 1.1 million.
Source: Trud (20.08.2001)

78 per cent of Energoproject JSC that develops all projects for the nergy sector in the State, will be sold through Compesatory Vouchers. MEBO Energoproject - engineering will buy the bonds most probably from UBB JSC for BGN 0.23 per each. Through them will be paid about BGN 1.9 million of the selling price of the company. The Czech company Newton finance and EIBank JSC also may take part in Energoproject.
Source: 24 chasa (20.08.2001)

The Municipality of Veliko Tarnovo prepares a credit profile which will be presented to the Board of Management of the United Bulgarian Bank (UBB) for granting of a investment credit in an amount of BGN 633 618. The offer was negotiated in the frames of the agreement between the American Agency for International Development and UBB. In order to guarantee 50 per cent of the credit the municipality has to mortgage real estate of about 400 sq.m. According to the agreement in the investment program have to be included BGN 43 095 technical reserves which will make the municipality a participant in the project with 30 per cent own finance. About BGN 250 000 will be the annual economy electricity if the project is realized.
Source: Yantra - Veliko Tarnovo (27.08.2001)

Bank DSK, Bulbank and OBB have decreased their profit as a whole in the bank system. In the end of July their share in the total financial result was 74.5 per cent. A month earlier the three banks have formed 76.5 per cent of the net profit in the sector. Almost unchanged is the share of the credits they have granted. The banks of the first group have granted 35.1 per cent of the total amount of the credits given by the system. They hold 49.8 per cent of the attracted deposit mass.
Source: Standart (30.08.2001)

With BGN 36 306 will be raised the investment credit which the Municipality received from OBB - branch Veliko Tarnovo for accomplishing a project for energetic efficiency if on tomorrow's session the councilors support the offer of the Supervisory Board of Privatization and the Mayor Mr. Rashev. The amount of BGN 669 924 is supplied by an agreement with the American Agency for International Development and OBB. One of the conditions for the credit was the Municipality to mortgage real estate for 400 sq.m. According to preliminary data the realization of the project will lead to nearly BGN 2500 000 annual economies from street lights. The deadline for paying of the debt is 31 December 2005
Source: Yantra - Veliko Tarnovo (19.09.2001)

United Bulgarian Bank (UBB) will launch public bonds. This will be decided at the extraordinary meeting of the bank on October 23. The conditions and parametres of the issue will be defined then. The Securities will be traded on the stock exchange. Their annual profitability will be between 7 and 7.5 per cent. It is expected a great interest in the Securities because of the high profitability.
Source: Dnevnik (21.09.2001)

At a General Meeting of berg Montana Fitingi JSC, Montana was decided to be raised the capital with monetary and non-monetary contributions in amount of BGN 4 420 640. The capital will be raised from BGN 315 760 to BGN 4 736 400 through an issue of 442 064 new personal shares with a face value of BGN 10. Every shareholder has right to gain part of the new shares which is equal to his share in the capital of the company before the new shares were issued. The deadline for registering of the new shares is 21.10.2001. their full issue value is paid through a monetary contribution to the bank account in United Bulgarian Bank JSC, Monatana branch.
Source: State Gazette (21.09.2001)

National Bank of Greece intends to buy 30 per cent of a Turkish bank within the end of the year. In a report of Schroder Salomon Smith Barney there are not any expectations for mergers of the National Bank of Greece in the next 5-9 months.
Source: Capital (24.09.2001)

With BGN 36 306 will be increased the investment credit, which the branch United Bulgarian Bank in Veliko Tarnovo grants to the Municipality for the realization of a project for energy efficiency. During June the Municipal Council made a decision for requesting a bank credit for investigating the opportunities for cheaper public lighting. With the additionally granted means the sum will become BGN 669 924. It is granted after an agreement between United Bulgarian Bank and the American Agency for International Development. The realization of the project will bring an annual economy of public lightening in amount of BGN 250 000. The deadline for paying to the bank is 31.12.2005.
Source: Pari (25.09.2001)

Sofia Municipality will sell its shares in the companies that look after hotel Hilton, Central halls, business centre in the street Gurko1, the central swimming pool of Bankia and a business building in the district of Ivan Vazov. The offer is of the Mayor of Sofia Mr. Stefan Sofianski and has to be approved by Sofia Municipal Board on Friday. At the moment Hilton is managed by Company for luxury hotels in which the Municipality holds 21.64 per cent. The rest shareholders are the French company Sibex international, Hilton International and Glavbolgarstroy. The Municipality also holds 34 per cent of the shares of the Central halls and the rest are property of Israeli company Ashtrom.
Source: Dnevnik (26.09.2001)

At the beginning of last week United Bulgarian Bank granted BGN 20 million short-term credit to GloBul, which is the second GSM operator in Bulgaria for the construction of its network. The bank was probably chosen because both GloBul and UNB have predominant Greek participation. The mobile operator commented that this is not the only bank it will work with in the future. The circle of financial institutions, attending the company, will expand.
Source: Capital (01.10.2001)

Bulgarian Consolidation Company will declare a new auction for Biochim. In the end of last week BCC sent its representatives in the Supervisory Board of the bank. They are Mrs. Sofia Kasidova, Mr. Krasimir Katev and Mr. Gati al Djeburi. The Board of Management was completed with two new members - one of them is Mr. Nikolay Kavardjikliev - former member of the Board of Management of State Saving Bank DSK and former employee in Hebros bank. The other one is Mr. Lubomir Minchev. He was a former Executive Director of Global Securities. The bank is the forth biggest bank in the country as classified by assets after BulBank, United Bulgarian Bank and DSK. Its assets are BGN 602 million and they grew with 16 per cent since the beginning of the year until the end of August. The high amount of the assets was the main reason the former members of BCC to cancel its sale to Hebros Bank.
Source: Sega (02.10.2001)

0.25 per cent will be the fee that BNB and 4 of the Bulgarian banks will deduct at the exchange of the banknotes of the countries from the Eurozone against euro. This was announced in a cooperative statement of BNB, Bulgarian Post Bank, United Bulgarian Bank, Bulbank and Biochim. The commission will be gathered during the period between January 1 and February 28 of the next year and its purpose is to cover the expenses connected with the transport and insurance of the euro banknotes, was specified from the banks.
Source: Pari (05.10.2001)

The German shipping company Militzer & Munch was established in 180 in the town of Hoff, North Bavaria, by Richard Militser and Werner Munch. The company’s business relations in Bulgaria have already got a 70-year history. It organized the first railway export of Bulgarian goods to Germany. Militzer&Munch also stands in the basis of the first Bulgarian shipping company with foreign share – Komet – Furt im Wald, which was established in the yearly 70’s of the previous century. Initially, 70 per cent of it were owned by the German company, and the remaining 30 per cent – by Despred. Gradually, the share of Militzer&Munch was bought up by the Bulgarian state-owned company. There a few Bulgarian companies nowadays which can say they have a 10-year history of going up. Militser&Munch is one of them for sure. For the company’s tenth anniversary, in Bulgaria is arriving the Chairman of Trans Invest Holding Mr. Werner Albert. The holding he is heading was established in 1982 in St. Gallen, Switzerland, and unites companies, including the world-famous German shipping company Militzer&Munch, financial groups, as well as investment and trade companies.
Source: Banker (15.10.2001)

United Bulgarian Bank will issue 3-year ordinary bonds for BGN 15 million through prime public offering on BSE-Sofia, became clear at the discussion for the capital markets in the frames of the economic forum for South-eastern Europe. The funds from the issue will be used for enlargement of the credit activity of UBB. After the filling of the issue or after the deadline of the subscription expires, the bonds will be registered for a secondary trade on the Bond's Exchange Market.
Source: Pari (18.10.2001)

United Bulgarian Bank and LUKoil Bulgaria signed a contract for loan of EUR 12 million. The funds will be used for enlargement of the chain of petrol stations of LUKoil in Bulgaria.
Source: Dnevnik (24.10.2001)

The credit institutions have reported a net profit of BGN 247.876 million for the first nine months of the year. The net financial result of the bank system for September has shown a growth of 7.6 per cent. The profit for September is BGN 19.465 million. The three biggest banks - Bulbank, United Bulgarian Bank and State Saving Bank (DSK), which according to the classification of BNB form the first group, hold 47.4 per cent of the assets in the sector. The credits granted by these institutions form 36.2 per cent of the oans granted by the bank system as a whole. They have realized 73.9 per cent of the total profit of the sector.
Source: Pari (26.10.2001)

Montana District Court declared the armour company Pima in insolvency. This happened by request of Black sea Agricultural and Investment Bank to which the military company owes BGN 100 000. The biggest creditors of Pima are United Bulgarian Bank with BGN 5.6 million and National Social Security Institute with BGN 2.2 million. According to the syndic Mr. Krassin Krustev this is the best decision for the company.
Source: Standart (29.10.2001)

United Bulgarian Bank, which has the most developed card network in Bulgaria, will apply for a second license for national card operator, announced from BNB. In order to be given this license the Board of Management of the Central Bank has to change the decree for the payments with bank cards, according to which BORIKA is the only national card operator. The meeting for the discussion of this problem has been postponed already several times. An official representative of UBB that the new Greek owners of the credit institution intend to invest USD 15 million in the information technologies.
Source: Black sea (31.10.2001)

There will be changes at Bulgarian bank market because of the merge of Alfabank and National bank of Greece, announced financial analysts. The newly created bank will be the 25th by size in Europe and will hold 60 per cent of the bank market in Greece. The merge of the two Greek banks may also influence on the Bulgarian bank market because of their investments in the State. Alfa has a branch in Bulgaria and is the owner of United Bulgarian Bank.
Source: Standart (05.11.2001)

The cable televisions of Vratza, Mezdra and Botevgrad will unite, announced the owner of TV Vratza Mr. Vladimir Mihailov. At the press conference became clear that the purchase of the network of CabelNET from the owner of Vratza television is a part of the tendency for enlargement among the cable operators in the whole State. Mr. Mihailov specified that this was not just a merge but increase of the quality and the number of the offered services to the subscribers.
Source: Shans Express Vratza (13.11.2001)

The Executive Director of UBB, Sliven branch Ms. Violeta Kurjalieva was found dead. Ms. Kurjalieva jumped from the 8th floor at her own home. She took this position in the bank several months ago.
Source: Monitor (22.11.2001)

The debts in currency of the Government to the banks from the first group - Bulbank, United Bulgarian Bank and State Saving bank have grown during October with nearly BGBGN 4.5 million. A growth in similar size was reported during September when Bulbank financed the Government with BGN 88 million.
Source: Dnevnik (22.11.2001)

The investments of the Russian giant LUKoil in its own trade network will reach USD 1 billion during 2005. The investments in Bulgaria will be USD 300 million. The investments of the Bulgarian branch are USD 90 million for less than a year and a half. The company owns 240 warehouses for fuels and 2800 oil-stations. The company owns more than 30 oil-stations in Bulgaria and its purpose is their number to reach 120-130 within the end of 2005. This will be 25-28 per cent of the domestic market. In accordance to the 15-year contract between LUKoil and Naftex Bulgaria holding LUKoil received the right to put its trade brand on 100 of the oil-stations of Petrol. In the end of October the oil company received a loan of EUR 12 million from United Bulgarian Bank. The loan will be used for the future development of the trade network.
Source: Dnevnik (27.11.2001)

The rating of Bulbank and United Bulgarian Bank was raised from B+ to BB minus and of Municipal Bank - from B to B+. The evaluation of the perspective of the three banks was changed from positive to stable. The present long-term rating of First Investment Bank was confirmed - B as the perspective was changed from stabile to positive.
Source: Standart (29.11.2001)

Another 2 banks will start to grant credits against warehouse notes. These are UBB and Bulbank. SG Expressbank, Eurobank and Unionbank have so far provided such loans. So far have been granted credits in amount of BGN 12.1 million against warehouse notes for 626 000 t grain. In 2001 the interest of the agricultural farmers in the trade with warehouse notes increased three times in comparison with 2000.
Source: Monitor (30.11.2001)

The Municipalities of Pernik, Radomir, Kovachevtzi, Zemen and Breznik will establish an inter-municipal trade company Rayantzi Dam. The purpose of the new legal entity is to be finished the construction of Rayntzi Dam, which was stopped about 10 years ago because of the lack of the enough finances. Interest in the dam are showing investors from Germany, Russia and Turkey. The dam will provide water for 30 establishments in the region and for the plants in Chervena Mogila. The share participation of the municipalities in the company is determined by the number of their citizens. The share of Pernik Municipality is the biggest - 70 per cent.
Source: BTA (10.12.2001)

Bansko Municipality negotiates for a credit in amount of USD 18 million for the development of a ski-zone, announced the Mayor of the city Mr. Alexander Kravarov. For the construction the municipality depends on a credit from foreign and Bulgarian banks. Readiness to grant the credit have announced United Bulgarian Bank, Bulbank and Raiffeisenbank. They all have a definite interest for investment. The guarantee for the credit will be given by First Investment Bank.
Source: Monitor (10.12.2001)