The State Savings Bank (SSB) granted BGL 4 bln refinancing to three private commercial banks: Businessbank, First East International Bank and Commercial Bank Slavjani. The Bulgarian National Bank accused the SSB of violating the restrictive policy of the central bank.
Source: Other (02.01.1996)

The bank system for non-cash payments "Borika" will be transformed into a joint-stock company. Instead of affiliation fees the banks will buy bankomats. So far only the United Bulgarian Bank is granted a license for distributing the bank cards "Borika". The Central Cooperative Bank, First Investment Bank and the State Savings Bank have also applied for licenses.
Source: Pari (04.01.1996)

The shareholders of the Postal bank voted for a capital increase and a two-tier system of management. Chairman of the Supervisory Board was elected the Bank Consolidation Company as a legal entity. Members of the Supervisory Board are the State Savings Bank, Maksim Sirakov, Chairman of the State Insurance Institute and Hristo Drumev, CEO of the National Palace of Culture. At its first meeting the Supervisory Board elected members of the Board of Managers as follows: Momchil Andreev - Chairman, Evgeny Atanasov and Tonka Lyubenova. BGL 100 mln from the capital increase will be divided proportionately among the six major shareholders and the rest up to BGL 800 mln will be on the account of the complementary capital.
Source: Pari (08.01.1996)

The Council of Ministers discharged Rusi Karanikolov from the Board of Managers of the State Savings Bank. New members of the board are appointed Petya Tsekova, Plamen Oresharski from the Ministry of Finance and Nikolina Micheva from the Bulgarian National Bank.
Source: Standart (12.01.1996)

The Council of Ministers considered the report of the State Savings Bank. Deputy Prime Minister Roumen Gechev said that at present the bank dispose of BGL 160 b money resourse.
Source: Trud (19.01.1996)

The former managers of the State Savings Bank have granted Agrobusinessbank a credit of BGL 886 million in the beginning of 1995. The credit is granted without any guarantees, said Deputy Prime Minister Roumen Gechev. Last year the State Savings Bank has granted credits totaling BGL 30 billion.
Source: Standart (25.01.1996)

Sofia City Court registered amendments for Bulgarian Post Bank JSC: an increase in the capital from BGL 500.000.000 up to BGL 600.000.000 through an issue of 20.000 personal shares with par value of BGL 5000.
Source: State Gazette (30.01.1996)

"Bulgarian Postal Bank" rised its capital up to BGL 800 million. The National Palace of Culture refused to participate the capital increase, thus the major shareholders will have the following stakes: National Palace of Culture - 6.67 per cent, Bank Consolidation Company - 12.17 per cent, Bulgarian Telecommunication Company, Bulgarian Posts, State Insurance Institute, and State Savings Bank - 20.29 per cent each.
Source: Pari (16.02.1996)

The "Surveillance" Division with the Bulgarian National Bank refused to grant the Bulgarian Postal Bank a permission to rise its capital from BGL 500 million up to BGL 600 million without the participation of the National Palace of Culture. The capital from the capital increase has been paid in by all of the shareholders of the Bulgarian Postal Bank, except for the State Savings Banks which is awaiting the central bank's permit.
Source: Pari (23.02.1996)

The State Savings Bank has submitted to the Council of Ministers a demand to buy out the major stake of the capital of "Mineralbank". At present major shareholder of "Mineralbank" is the Bank Consolidation Company. The State Savings Bank has also submitted to Parliament its views on the amendments to the Law on the State Savings Bank. Both of the documents are aimed at broadening the activities of the SSB.
Source: Other (28.02.1996)

It is anticipated the Council of Ministers to cancel part of the restrictions imposed on the activities of Mineralbank and the Economic Bank, the prohibition for refinancing by the Bulgarian National Bank and the State Savings Bank in particular. The restrictions imposed on the credit activities of the above-mentioned commercial banks will most probably remain in force.
Source: Pari (21.03.1996)

The State Savings Bank reports profit of BGL 10 billion in 1995. The net assets of the SSB amount to BGL 192 billion.
Source: Kontinent (28.03.1996)

The Council of Ministers approved two new deputy chairpersons of the State Savings Bank. These are Mrs. Violina Spasova member of the BdD of Bankservice and Lalko Dulevski director of the Center for Social Research.
Source: 24 chasa (29.03.1996)

The budget deficiency will grow up with BGL 25 billion. The money will be needful for paying the interests on the T-bills which were issued for the accounts transferred from the First Private Bank and Mineralbank to companies and citizens in the State Saving Bank. The budget comission did not accept the offer for guaranteeing 100 percent the deposits of the companies.
Source: Standart (23.05.1996)

The State Saving Bank has applied for buying up part of the shares of BNB in Agrobusinessbank JSC.
Source: Standart (04.06.1996)

The State Saving Bank (SSB) started the service of citizens, who have deposits in BGL with the First Private Bank and Mineralbank JSC, reported Bistra Dimitrova, chairperson of SSC.
Source: Pari (21.06.1996)

The Board of Governors of the Bulgarian National Bank together with the MOF approved the primary dealers of T-bills. These are: the Bulgarian-Russian Investment Bank, the Bulgarian Post Bank, Balkan Universal Bank, the State Insurance Institute, the State Savings Bank, ING Bank, the International Orthodoxal Bank "St. Nikola", the United Bulgarian Bank, Trakiabank, First Investment Bank, First Financial Brokerage Hose, CB Biochim, Bulbank, Expressbank, CB Credit Express, FBH Eurofinance, and Unionbank.
Source: Pari (28.06.1996)

The government decided that the State Savings Bank must grant a credit of BGL 15 billion for buying up the grain from the harvest of 1995.The Minister of Agriculture will decide to which companies the credit will be allocated.
Source: 24 chasa (03.07.1996)

The Board of Governors of the BNB authorised the State Savings Bank to issue debit cards from the Borika system.
Source: Trud (05.07.1996)

Bulbank and the State Savings Bank are the only Bulgarian banks, which are on the list for the world's best hundred banks.
Source: Pari (16.07.1996)

The State Savings Bank can already service the accounts of legal entities, former customers of the First Private Bank and Mineralbank. Discussions are carried on considering the possibility that the State Savings Bank receives deposits in foreign currency.
Source: Pari (18.07.1996)

The Ministry of Finance increased the nominal value of the guarantee bonds, which were issued in use of the State Savings Bank. The change amounts to BGL 1,407 billion and the sum of the issue becomes BGL 6,339 billion.
Source: 24 chasa (25.07.1996)

The Council of Ministers allowed the State Savings Bank to grant the National Electricity Company a credit of BGL 5 billion. The NEC needs USD 120 million for deliveries of nuclear fuel and coal, as well for repairs of the power stations.
Source: Other (08.08.1996)

The State Savings Bank will increase the interests on the deposits on the 2nd of September. No amendments will be made on the credits. The interests on the 12 months' deposits will be increased from 90 per cent up to 100 per cent.
Source: Trud (29.08.1996)

The International Monetary Fund (IMF) has approved the intention of the State Savings Bank to open foreign exchange deposits. It is expected that the government will vote the permission right after its holidays. The directors of the commercial banks are afraid that this will worsen their liquidity, because the foreign exchange deposits will be transferred to the State Savings Bank.
Source: Trud (30.08.1996)

In the beggining of 1997 the Ministry of Finance will issue 6-month's T-bills indexed with the inflation. They will be distributed mainly by the State Savings Bank. The project provides for an indexation of the principal with the inflation.
Source: Pari (17.10.1996)

The balance profit of the State Savings Bank for the passed 9 months of 1996 amounts to BGL 10,27 billion. The deposits in this institution have increased from BGL 166,996 billion up to BGL 210 billion for the same period. Till the 25th of October 1996, the State Savings Bank has granted a credit of BGL 13,265 billion for the Bulgarian agriculture.
Source: Pari (01.11.1996)

The Council of Ministers made amendments on the Managing Board of the State Savings Bank. Roumen Simeonov was appointed on the place of Nikolina Micheva. The new member of the Managing Board had worked in the Bank Supervision's Department of the BNB.
Source: Other (08.11.1996)

The Holland consulting company "BDO Binder" won the auction for the international audit of the State Savings Bank. The auditor has been approved by the Minister of Finance Dimitar Kostov. The consulting company "Yavor Zartov" JSC has been elected Deputy Executor of the audit.
Source: Banker (02.12.1996)