Bochko's producer finances the expansion of its business with BGN 4.5 million credit Shumen-based producer Lavena has signed an investment bank loan worth BGN 4.505 million with United Bulgarian Bank (UBB). According to the document, the loan must be repaid by March 2023, which will be used for the expansion of the company's business. Lavena, which is best known for its Bochko series of baby products, announced in October last year that it would invest BGN 5 million to expand its production in Shumen by 5 203 square meters. Then it became clear that part of the project was both the production and warehouse building, and the expected price was BGN 4.990 million excluding VAT. The construction must be completed by the end of July this year. Lavena exports to 43 countries around the world, including China, Australia, England, India, the United States and others.
Source: money.bg (23.01.2019)

Lavena AD-Shumen (4L4) Notification by the company with regard to a signed investment credit agreement with United Bulgarian Bank AD
Source: BSE (24.01.2019)

With regard to a request filed by UniCredit Bulbank Investment Intermediary, BSE withholds the rights of Boyan Vasilev granting him access to the BSE Trading System as of 31 January 2019. With regard to a request filed by United Bulgarian Bank Investment Intermediary, BSE withholds the rights of Vanya Mladzheva granting her access to the BSE Trading System as of 31 January 2019.
Source: BSE (31.01.2019)

With reference to a decision of the Board of Directors of Bravo Property Fund REIT-Sofia (BPY) taken on 20 December 2018 for an increase in capital of the company and to the subsequent announcement pursuant to Art. 92a of the POSA made on 13 February 2019 via the chosen information agency Investor.BG (www.investor.bg) and the website of the issuer (www.bpf.bg) as well as via the website of the authorised investment intermediary (www.unicreditbulbank.bg), please, be informed that the following issue of rights has been admitted to trading on the Subscription Rights Segment of the BSE Main Market by an order of the Director of Trading on the grounds of Art. 32 (2) in conjunction with (1) of Part III - Listing Rules of the BSE Rules and Regulations: - Number of shares prior to the increase: 650,000 - Number of rights issued: 650,000 - Number of shares offered for subscription: 36,400,000 - Nominal value per share: BGN 1.00 - Issuing value per share: BGN 1.00 - Ratio between the rights issued and new shares: 1/56 (right/shares) - Everyone may subscribe to such number of shares equal to the number of acquired and/or held rights multiplied by 56. - The capital will be increased if at least 36,000,000 new shares will be subscribed to and paid in. - BSE code assigned to the rights issued: BPYB - ISIN of the rights issued: BG4000005190 - LEI code of the issuer: 8945005OB6T0BWUV7595 - Trading lot: One (1) right - Currency of trading: BGN - Minimum tick size: 0.001 - Indicative reference price set for the first trading session: BGN 0.029; In case of a change before the first date of trading, the new reference price will be duly disclosed. - Starting date of trading in rights on the Exchange: 01 March 2019 - Final date of trading in rights on the Exchange: 14 March 2019 - Starting date of transferring the rights: 01 March 2019 - Final date of transferring the rights: 18 March 2019 - Auction date as per Art. 112b (7) of the POSA: 25 March 2019 - Starting date of subscribing to shares of the increase: 01 March 2019 - Final date of subscribing to shares of the increase: 09 April 2019 - Investment intermediary authorised to administer the capital increase: UniCredit Bulbank AD - Bank with which an accumulation account will be opened: United Bulgarian Bank AD - The right to participate in the capital increase shall be entitled to all persons who have acquired shares not later than seven (7) days following the date of publication of the public offering notice in pursuance of Art. 92a (1) of the POSA i.e. by Wednesday, 20 February 2019 (Record Date). - The final date for transacting shares of this company on the Exchange, as a result of which the holder will be entitled to take part in the capital increase, will be Monday, 18 February 2019 (Ex Date: 19 February 2019).
Source: BSE (21.02.2019)

HypoCredit AD-Sofia (9RTE) BSE has received a report under Art. 100g (1), item 3 of the POSA as at 31 December 2018 from CB United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders of HypoCredit AD-Sofia (9RTE), ISIN BG2100018089.
Source: BSE (26.02.2019)

The following decisions have been adopted at a session of the BSE Board of Directors held under Record of Proceedings No. 15 of 06 March 2019: With reference to an application submitted by United Bulgarian Bank AD Investment Intermediary under Art. 36 (1) of Part II - Membership Rules of the BSE Rules and Regulations, the Board of Directors admits to trading on the Exchange a new broker as follows: - Yavor Spasov - Correspondence address: Sofia, 5 Sveta Sofia St. - Telephone number: (+359 2) 811 24 45 - E-mail: yavor.spasov@ubb.bg
Source: BSE (07.03.2019)

Banks sold bad loans for over BGN 1.5 billion in 2018 The banks in Bulgaria have taken a serious cleanup of their portfolios of bad loans in 2018. Only for a year they have releaved themselves from troubled loans for EUR 0.8 billion (about BGN 1.56 billion), reads the Deloitte report for non-performing bank loans in Central and Eastern Europe. In total, two deals marked the sale of bad loans in 2018 in Bulgaria - the sale of EUR 250 million (nearly BGN 500 million) of secured and unsecured non-performing loans to individuals and companies from UniCredit Bulbank, as well as the UBB deal with EOS Matrix for a portfolio of EUR 235 million (BGN 460 million) of problem loans. Between 2015 and 2018, the sale of non-performing debts in Bulgaria amounts to about EUR 1.5 billion (BGN 2.93 billion), the Deloitte report shows. The sale of problem loans is part of the banking sector strategy in Bulgaria to reduce the share of non-performing loans, promoted by the BNB and required by the European Commission. The reason is that, according to statistics in the EU, only four troubled states have a higher share of non-performing loans compared to Bulgaria according to data from 2017.
Source: 24 chasa (12.03.2019)

With regard to a request filed by United Bulgarian Bank AD Investment Intermediary, BSE withholds the rights of Svetoslav Patronev granting him access to the BSE Trading System as of 15 March 2019. With regard to a request filed by Piraeus Bank Bulgaria AD Investment Intermediary, BSE withholds the rights of Nanko Ivanov granting him access to the BSE Trading System as of 15 March 2019.
Source: BSE (15.03.2019)

EMKA AD-Sevlievo (57E) BSE has received the materials of the appointed regular General Meeting of Shareholders of EMKA AD-Sevlievo (57E) as follows: EMKA AD-Sevlievo has appointed a General Meeting of Shareholders on 16 May 2019 at 11:00 a.m. in the town of Sevlievo at 30 N. Petkov St. under the following agenda: - Report of the managing bodies on the company's activity in 2018 - Adoption of the 2018 annual financial report of the company - Report of the registered auditor on the 2018 audit - Report of the Investor Relations Director - Election of a registered auditor - Report of the Audit Committee - Release from liability of the members of the managing bodies with respect to their activity in 2018 - Amendments to the Statutes of the company - Financial result allocation decision Draft resolution: The GMS adopts the 2018 profit in the amount of BGN 3,515,959.95 to be allocated as follows: 1. Dividend distribution of BGN 1,827,345.35 from the net profit in terms of BGN 0.0842100526 gross dividend per share, starting on 11 July 2019. Dividends will be paid out via the Central Depository and CB United Bulgarian Bank AD; 2. Allocation of BGN 19,395.00 to the to the Reserve Fund 3. The amount of BGN 1,669,219.60 shall be set aside as retained profits. - Report on the implementation of the remuneration policy for the members of the managing bodies - In the absence of a quorum, the GMS will be held on 30 May 2019 at 11:00 a.m., at the same place and under the same agenda. The voting right will be entitled to all shareholders registered with the Central Depository fourteen (14) days prior to the GMS date, i.e. by 02 May 2019 (Record Date). The final date for transacting shares of this company on BSE, as a result of which the holders will be entitled to exercise their voting right at the GMS, will be 25 April 2019 (Ex Date: 30 April 2019).
Source: BSE (02.04.2019)

The following decisions have been adopted at a session of the BSE Board of Directors held under Record of Proceedings No. 25 of 24 April 2019: With reference to an application submitted by United Bulgarian Bank AD Investment Intermediary under Art. 36 (1) of Part II - Membership Rules of the BSE Rules and Regulations, the Board of Directors admits to trading on the Exchange a new broker as follows: - Petya Panova-Ivanova - Correspondence address: Sofia, 5 Sveta Sofia Square - Telephone number: (+359 2) 811 24 41 - E-mail: petya.panova@ubb.bg
Source: BSE (25.04.2019)

UBB and DZI open an innovation lab The Belgian financial group KBC opened a Bulgarian branch of its SurfStudio@UBB è SurfStudio@DZI innovations lab, which already operates successfully in Belgium, Ireland, the Czech Republic, Slovakia and Hungary. SurfStudio aims to become a platform for sharing innovations and exchanging ideas with UBB, DZI and other companies in the Group. The laboratory expresses their philosophy of seeking and applying innovative practices not only in their core banking and insurance business but also in a wider range of innovations. The space is equipped with various advances in modern technology and wants to inspire employees to experiment with different solutions, seek optimal interaction with technological advances and apply innovation in their business. The first development of SurfStudio@DZI is a joint project between VIVACOM, DZI and Sirma Group Holding. It is a free mobile application for quick connection with emergency teams and the user's personal contacts.
Source: Banker (14.05.2019)

EMKA AD-Sevlievo (57E) The General Meeting of Shareholders of EMKA AD held on 16 May 2019 has taken the following dividend distribution decision for year 2018: - Gross dividend per share: BGN 0.08421 - Net dividend per share (after 5% withholding tax): BGN 0.08 - Dividend payout starting date: 11 July 2019 - Dividends will be paid out via the Central Depository and United Bulgarian Bank. The right to a dividend will be entitled to all shareholders registered with the Central Depository on the 14th day following the GMS date i.e. by 30 May 2019 (Record Date). The final date for transacting shares of this company on the Exchange, as a result of which the holder will be entitled to receive a dividend, will be 28 May 2019 (i.e. Ex Dividend Date: 29 May 2019).
Source: BSE (17.05.2019)

Korado Bulgaria AD-Strazhitsa (4KX) The General Meeting of Shareholders of Korado Bulgaria AD held on 15 May 2019 has taken the following dividend distribution decision for year 2018: - Gross dividend: BGN 2,502,036.66 - Gross dividend per share: BGN 0.19 - Net dividend per share to natural persons: BGN 0.1805 - Dividend payout starting date: 12 June 2019 - Dividend payout final date: 14 August 2019 - Dividends will be paid out via the Central Depository and United Bulgarian Bank. The right to a dividend will be entitled to all shareholders registered with the Central Depository on the 14th day following the GMS date i.e. by 29 May 2019 (Record Date). The final date for transacting shares of this company on the Exchange, as a result of which the holder will be entitled to receive a dividend, will be 27 May 2019 (i.e. Ex Dividend Date: 28 May 2019).
Source: BSE (20.05.2019)

A lawsuit closed Arena Cinemas Arena Cinema announced that “starting May 23 the cinemas in Arena Mladost Sofia and Arena Zapad Sofia are temporarily closed. The interruption is necessary in connection with the occurrence of legal circumstances that need time to resolve." According to Capital, the dispute is between US investment company Apollo Global Management and companies around the creator of the cinema chain Stefan Minchev. Minchev did not regularly serve his loans to UBB and Postbank for a total amount of EUR 30 million and the two financial institutions sold the collateral to Apollo last year. The sum includes the principal of the debts to the two banks and their leasing companies, as well as the related interest and penalties for delayed payments. Meanwhile, with a series of transfers, bankruptcies and contributions of land and buildings, assets move away from the debtor and creditor. Due to loopholes in the law, creditors, even having authority on the asset, are in fact not allowed to take part in the bankruptcy of the hindmost company. Both parties to the dispute have abstained from commenting.
Source: Dnevnik (28.05.2019)

HypoCredit AD-Sofia (9RTE) BSE has received a report under Art. 100g (1), item 3 of the POSA as at 31 March 2019 from CB United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders of HypoCredit AD-Sofia (9RTE), ISIN BG2100018089.
Source: BSE (03.06.2019)

The extension of Park Park Plovdiv has begun A total of 900 jobs will be opened in Plovdiv Park after the completion of the second phase of the project in 2020. This was announced by the manager of Galaxy Investment Group, who made the first sod of the second phase of the business building project. Currently, more than 900 people work in the business building whose first-stage was completed at the end of 2016. Office Park Plovdiv is an office building class "A" with a total built-up area of 10 336 sq.m. The building consists of eight levels, including one ground floor, six office and underground parking lots. The vision relies on high energy efficiency and high quality of input materials and infrastructure. The construction of the building has a useful floor area of 1 110 sq m and allows to be occupied by up to four independent office units. There is a 24-hour security and a general reception, ensuring the comfort of the work environment. At present, among the tenants of the office building are well-established Bulgarian and foreign companies including SiteGround, Bulpros, Football Radar, Codenest, Delasport, Accenture, VSG, UBB and others.
Source: Monitor (19.07.2019)

ECB finds capital shortfalls at Bulgaria's Fibank, Investbank A comprehensive assessment by the European Central Bank (ECB) of six Bulgarian banks found capital shortfalls of 262.9 million euro ($292.8 million) at First Investment Bank (Fibank) and 51.8 million euro at Investbank, the ECB said late on Friday. "Four of the six banks covered by the comprehensive assessment – UniCredit Bulbank AD, DSK Bank EAD, United Bulgarian Bank AD and Central Cooperative Bank AD – do not face any capital shortfalls, as they did not fall below the relevant thresholds used in the AQR and the stress test," ECB said in a statement. "First Investment Bank AD, on the other hand, fell below the 8% CET1 ratio threshold for both the AQR and the stress test’s baseline scenario, as well as falling below the 5.5% CET1 ratio threshold used in the stress test’s adverse scenario. Meanwhile, Investbank AD fell below both the 8% CET1 ratio threshold used in the stress test’s baseline scenario and the 5.5% CET1 ratio threshold used in the stress test’s adverse scenario," it added. The comprehensive assessment was carried out on Bulgaria’s request as part of the country's efforts to join the banking union and the eurozone. Reacting to the results of ECB's comprehensive assessment, Fibank said it has secured 130 million euro to back its capital. "Fibank will address the remaining amount of 133 million euro with its operating profit, de-risking of its corporate portfolio, and any other eligible measures," it said in a statement late on Friday. The AQR is a prudential exercise, rather than an accounting exercise, and provides the ECB with a point-in-time assessment of the carrying values of banks’ assets on a particular date - December 31, 2018 for the six Bulgarian banks. The AQR also determines whether there is a need to strengthen a bank’s capital base. The AQR was complemented by a stress test exercise, which looked at how the banks’ capital positions would evolve under hypothetical baseline and adverse scenarios over the next three years - by 2021. That stress test was conducted using the methodology applied in the European Banking Authority’s 2018 stress test.
Source: Capital (29.07.2019)

The BNB has announced the banking system is stable The Bulgarian banking sector as a whole is sustainable. This is the main conclusion that the Bulgarian National Bank (BNB) made on the basis of the results of the European Central Bank's audit of assets and stress tests of six Bulgarian banks. At the end of 2018, the ECB chose six Bulgarian banks - UniCredit Bulbank, DSK Bank, UBB, Fibank, CCB and Investbank, to which in the beginning of 2019 it appointed an asset check. The inspection was due to Bulgaria's application to apply for the euro zone prefix - ERMII, as well as for the EU Banking Union. BNB has discussed the results of the review and endorsed them. "Follow-up will be undertaken to further strengthen the bank's capital position in strict accordance with the BNB mandate and the relevant regulatory framework," the central bank said.
Source: mediapool.bg (29.07.2019)

HypoCredit AD-Sofia (9RTE) BSE has received a report under Art. 100g (1), item 3 of the POSA as at 30 June 2019 from CB United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders of HypoCredit AD-Sofia (9RTE), ISIN BG2100018089.
Source: BSE (19.08.2019)

KBC Group: The state of the Bulgarian economy is not as positive as it seems In the second quarter of 2019, the Bulgarian economy grew by 3.5% on an annual basis, thus maintaining a positive growth rate compared to the previous three months. This is indicated by the September issue of the report on the economic prospects of the European Union countries, published by KBC Group, which owns United Bulgarian Bank in Bulgaria. Although the rate of increase slows down by 0.4 percentage points to 0.8%, in 2019 Bulgaria's gross domestic product will increase by 0.1 percentage points from a year earlier to 3.2%, after which it will decrease by as much in 2020. The analysis emphasizes on the decrease in investment activity in Bulgaria. However, KBC reports that strong consumption in the country will be a sufficient factor to keep the economy from "significantly cooling down". If Brexit leads to a 50% drop in imports of European goods into the UK, Bulgaria will be one of the least affected countries, analysts state. The country's exports will decline by only 0.27% under this scenario.
Source: money.bg (26.09.2019)

Six Bulgarian banks are among largest in Central and Eastern Europe 6 Bulgarian banks rank in the Top 100 of the largest vaults in Central and Eastern Europe. The ranking is composed by RIA Rating Agency on the order of the leading Russian financial site Prime. UniCredit Bulbank is ranked 42nd; DSK is 57th, United Bulgarian Bank is 69th, First Investment Bank is 76th, Postbank is 88th, and Raiffeisen's branch in this country holds 91st position. The banks have improved their performance compared to 2018. The biggest jump is with UBB with 27 places. It has shown the best dynamics among the Top 100, with assets having grown by 46% to $ 6.6 billion after the merger with Sibank. DSK and First Investment Bank have significantly improved their positions in the ratings as the first one climbs 10 places up, and the second - 6 places.
Source: economic.bg (10.10.2019)

HypoCredit AD-Sofia (9RTE) BSE has received a report under Art. 100g (1), item 3 of the POSA as at 30 September 2019 from CB United Bulgarian Bank AD in the latter's capacity of a trustee of the bondholders of HypoCredit AD-Sofia (9RTE), ISIN BG2100018089.
Source: BSE (20.11.2019)

HypoCredit AD-Sofia (9RTE) BSE has received the materials of the General Meeting of Bondholders of HypoCredit AD-Sofia (9RTE) as follows: CB United Bulgarian Bank AD, in the capacity of a trustee of the holders of bonds issued by HypoCredit AD (9RTE) having ISIN BG2100018089, convenes a General Meeting of Bondholders on 09 January 2020 at 10:00 a.m. in the city of Sofia at 7 Lisets St., floor 3, under the following agenda: - Adoption of a decision for a change of a previous GMB decision dated 27 July 2016 regarding the affiliated company, Creditex EOOD - Consent to a partial deletion of registered pledges established under the Registered Pledges Act in favour of CB UBB AD against receivables of the company laid down in the invitation - In the absence of a quorum, the GMB will be held on 24 January 2020 at 10:00 a.m., at the same place and under the same agenda. The voting right at the GMB will be entitled to all persons registered as holders of bonds of the issue having ISIN BG2100018089 with the Central Depository five (5) days before the GMB date (Record Date).
Source: BSE (11.12.2019)