The BGL was pegged to the euro under the currency board regime, the central bank reported on December 31, 1998. The euro/lev rate is set at 1.955.83. A number of trade banks, among them "Bank DSK", "Post Bank" JSC, "Biochim" JSC, "Expressbank", "Bulgarian-Russian Investment Bank" and "First Investment Bank", announced they are ready to immediately conduct payments in euro.
Source: Pari (04.01.1999)

All attempts to settle the relations between "Bank DSK" and "Credit Bank" JSC failed to come to fruition. On January 5 expired the term in which "Credit Bank" JSC had to suggest a solution to the situation connected with returning the USD 12.8 million forex-denominated ZUNK bonds.
Source: Pari (06.01.1999)

The Board of Governors of BNB will not undertake any actions against “Credit Bank” JSC before it is approached by “Bank DSK” JSC, the central bank reported. Only after the expiration of seven working days after such a demand is presented to BNB the latter will take a stand on the contradiction between the two financial and credit institutions.
Source: Pari (07.01.1999)

Clients of "Credit Bank" JSC can draw up to BGL 200,000 from their deposits in the bank. There is some tension in the private bank due to the unsettled debts to "Bank DSK" JSC on the contracts for trust management of forex-denominated ZUNK bonds worth USD 12.8 million.
Source: Pari (08.01.1999)

The central bank revoked the license of "Credit Bank" JSC and demanded its insolvency. A total BGL 12 billion payments to clients are overdue. "Credt bank"s debt to "Bank DSK" JSC amounts to USD 6.525 million. USD 15 million are owed to some of the bankrupt banks. "Credit Bank" JSC owes BGL 5 billion to individual depositors. National Electric Company (NEC) will be among the first to stand in the line, but in best case will receive only BGL 5 million of its money, amounting to BGL 4 billion.
Source: Pari (13.01.1999)

With capital of BGL 10.005 billion, allocated in 100.005 shares of par value BGL 100.000 each, on January 15 was established Encouraging Bank by "Bank DSK" JSC and the government. The state participates with capital of BGL 10 billion, while "Bank DSK" - with BGL 500.000. A three-member Supervisory Board was elected - Chairman Mr. Plamen Oresharski. The other members are Deputy Minister of Trade Mr. Hristo Mihaylovski and Mrs. Irena Petrunova - chairing the Small and Medium Size Business Agency.
Source: Pari (18.01.1999)

The before-tax profit of "Bank DSK" JSC for 1998 amounts to BGL 9.003 billion, reported the Deputy Chairman of the Board of Directors Mrs. Violina Marinova. Collected funds amount to BGL 858.706 billion - 9.16 per cent of the bank's assets. The total capital adequacy of "Bank DSK" JSC in December was 20.3 per cent and the capital basis - BGL 102 billion.
Source: Pari (08.02.1999)

The decision of transformation of "State Savings Bank" into "Bank DSK" SP-JSC was promulgated. The bank registered capital is in the amount of BGL 70 billion.
Source: Pari (17.02.1999)

Dobrich District Court started examination of the claims of "Bank DSK" JSC and "TSBank" JSC for receivables that were not admitted by the syndic of "Dobrudzhanska Bank" JSC. The latter owes BGL 1.250 billion to "Bank DSK" JSC and USD 500.000 to "TSBank" JSC.
Source: Pari (23.02.1999)

A new member of the Board of Directors of Association of Commercial Banks (ACB) will be elected on April 8 at the association's General Meeting. A new representative of "Bank DSK" JSC will also be elected as its former representative Mr. Ivan Iskrov is not in the management bodies of the credit institution anymore.
Source: Pari (07.04.1999)

On may 15 "Bank DSK" JSC will decrease the basis annual interest on credits granted to companies from 17.5 per cent down to 14.5 per cent, reported Mr. Spas Dimitrov, Chairman of the Board of Directors of the financial institution. The debts of companies to the bank up to March 1 amounted to BGL 31.5 billion. In the first 2 months of 1999 the bank has granted credits of BGL 2.5 billion. According to an agreement with Bulgarian Industrial Association and Bulgarian Chamber of Industry and Commerce, the bank grants credits on project for financing small and medium-sized enterprises up to BGL 50 million.
Source: Pari (13.04.1999)

"Bank DSK" JSC will buy 36 per cent of the shares of Life-insurance Company "Bulstrad - Zhivot" JSC. Biggest part of the shares are held by "Contract Holding Company" Ltd. - a company of Mr. Emil Kyulev, Executive Director of "Roseximbank". The rest of the shares are held by Insurance and Re-insurance Company "Bulstrad" JSC (36.6 per cent) and "Hannover Re-insurance Company" JSC (9.09 per cent).
Source: Capital (20.04.1999)

Bank DSK JSC was allowed by BNB to acquire 36.6 per cent of the shares of Life-insurance Company Bulstrad - Zhivot JSC. The bank carried on negotiations for management of the company jointly with the German company Hannewor Re.
Source: Sega (28.04.1999)

Bank Supervision department in BNB allowed Bank DSK JSC to buy 36.6 per cent of the shares of Bulstrad - Zhivot JSC. Thus Bank DSK will turn into a modern bank, adding insurance to the full package of bank services offered by it. BGL 458.5 billion are the loans granted by Bank DSK up to March 31, 1999.
Source: Pari (29.04.1999)

The positive financial result of Bank DSK JSC up to March 31 was BGL 6.164 billion, stated Mrs. Violina Marinova, Deputy Chairperson of the Board of Directors and also Executive Director of Bank DSK. The bank's total amount of the assets was BGL 970.138 billion. Up to April 23 the bank granted loans of BGL 465.4 billion to citizens.
Source: Pari (30.04.1999)

Bulgarian - American Credit Bank became a full member of Association of Commercial Banks (ACB), decided the Board of Directors of ACB. Thus the members of the organization became 30. Mr. Spas Dimitrov, Chairman of the Board of Directors of Bank DSK, was elected a Deputy Chairman of the Board of Directors of ACB, stated Mrs. Irina Martzeva, Chief Secretary of ACB. On May 27 and 28 in Budapest will take place the 8th annual meeting of the members of European Bank Federation.
Source: Pari (12.05.1999)

Bank DSK (Sofia) will introduce a new service for its clients that will unite the clients accounts in the bank and the accounts in their debit cards, the Deputy-Chairwoman of the bank's Board of Governors Mrs. Violina Marinova reported. About BGL 8 billion is the pre-tax bank's profit of the first five months of the current year. The bank's total deposits amount to BGL 823 billion. Bank DSK has granted citizens' credits for the amount of BGL 473 billion for the same period. The company's loans that have been granted by the bank up to June 1, 1999 amount to BGL 40 billion.
Source: Democracy (23.06.1999)

22 financial institutions has been approved by the Minster of Finance and the BNB’s Governor for primary dealers of Government securities. The license will be effective for the period of July 1, - December 31, 1999. The new institutions in the list are DZI Invest JSC and CB Neftinvest JSC. The list includes also the following banks and financial companies: DSK Bank JSC (Sofia), BNP Dresdener Bank, Sofia branch, BRIB JSC (Sofia), Bulbank JSC (Sofia), Post Bank JSC (Sofia), Eurobank JSC (Sofia), Expressbank JSC (Sofia), ING Bank Sofia branch, UBB JSC (Sofia), FIB JSC (Sofia), Municipal bankaJSC (Sofia), Raiffeisentbank Bulgaira, Rosseximbank JSC (Sofia), Societe General Sofia branch, CB BIochim JSC (Sofia), CB Bulgaria-Invest JSC (Sofia), CB Hebrossbank JSC (Sofia), Unionbank JSC (Sofia), FBH Elana JSC (Sofia), FH Eurofinance JSC (Sofia).
Source: 24 chasa (24.06.1999)

At 0.00 a. m. last night the new money became a legal means of payment in Bulgaria. Institutions and citizens can exchange old money for new money in BNB, Bulgarian Post Bank JSC, UBB JSC, Bulbank JSC and Bank DSK JSC. Expenses of these credit institutions for transportation and counting will be undertaken by BNB. Exchange will end on December 31.
Source: Pari (05.07.1999)

Bank DSK JSC will grant consumer credits of up to BGL 5.000 (after denomination), stated Mrs. Violina Marinova, Executive Director of the financial institution. In the first 5 months of the year have been granted credits of BGL 407 billion.
Source: Pari (05.07.1999)

Since June 16 Bank DSK JSC has been completing electronic inter-branch payments, stated Mrs. Violina Marinova, Deputy Chairman of the Board of Directors and Executive Director of the financial institution.
Source: Maritza dnes (08.07.1999)

One month expired since the Act on amendment and complement of Bank Act was adopted. After June 18 the syndics of bankrupt banks had to transfer the money deposited by the state to one of the financial-credit institutions, servicing the budget. Only Economic Bank JSC and Capitalbank JSC paid their debts to the budget, was reported from BNB.
Source: Pari (19.07.1999)

Bank DSK JSC claims for being a creditor of Kremikovtzi JSC (BGN 10 million) on the cession contract between Kremikovtzi JSC and Multigroup JSC for the debts to Bulgargas JSC, stated Mr. Bozhko Bonev from Daru Metals JSC.
Source: Pari (02.08.1999)

50 credits have been granted by Bank DSK JSC and Eurobank on the credit line financed by the German government, stated the Director of Agency for Small and Medium-sized Enterprises Mrs. Irena Petrunova. Over 250 companies have applied for credits.
Source: Democracy (05.08.1999)

The net profit of the commercial banks with total amount of the assets over BGN 500 million in March is BGN 58.966 million after taxation, according to the monthly report for the incomes and expenses of BNB. The assets of the three banks - Bulbank, DSK Bank and United Bulgarian Bank - amounts to BGN 4.486 billion. The credits for the public companies are BGN 82.274 million, for the private companies - BGN 385.215 million and for the citizens - BGN 478.137million.
Source: BTA (31.08.1999)

12 of total 34 banks in Bulgaria have a loss for the first half of the year, according to data of BNB. The average capital adequacy of Bulbank JSC, Bank DSK and UBB was 54.16 per cent at the end of June.
Source: Capital (20.09.1999)

The profit of Bank DSK for the first 9 months of 1999 amounts to BGN 20.984 million, stated Mrs. Violina Marinova, Executive Director of the bank. This is an increase of BGN 2.913 million, as compared to the end of August.
Source: Pari (18.10.1999)

The total amount of assets of Bank DSK JSC in September was BGN 35.8 million higher as compared to June, 1999, was reported from the bank. The deposit basis went up by BGN 43 million - 5.2 per cent.
Source: Pari (29.10.1999)

Bank DSK JSC bought 36.6 per cent of life-insurance company Bulstrad JSC for BGN 1.46 million - USD 777.000, stated Mr. Nikolay Kavardzhikliev, Executive Director of the financial-credit institution. The capital of Bulstrad JSC amounts to BGN 4 million - USD 2.12 million. After this change in property the company was renamed into life-insurance company Bulstrad - DSK JSC.
Source: Democracy (16.11.1999)

The pre-tax profit of Bank DSK JSC - Sofia as of 29 October is BGN 23.6 million, the bank’s Deputy-Chairman Mrs. Violina Marinova reported. The bank’s total deposits amount to BGN 877.720 million. A month earlier they were BGN 865.199 million. The credit portfolio of Bank DSK JSC for the first nine months of the current year amounts to BGN 549 million.
Source: Pari (26.11.1999)

The Chairman of DSK Bank Mr. Spas Dimitrov is the new Chairman of the Association of Commercial Banks (ACB). Deputy Chairman was elected Mrs. Vania Vassileva - Executive Director of Municipal Bank JSC. In the places of Mr. Stoyan Alexandrov and Mr. Penyo Hadzhiev were elected Mr. Dimitar Kostov from CB Bulgaria Invest JSC and Mr. Momchil Andreev from Raiffeisenbank.
Source: Pari (06.12.1999)

The Ministry of Finance is the only candidate-buyer of bankrupt Businessbank JSC. The ministry has offered a price of BGN 4.6 million. The bank's debts to the Ministry of Finance amount to BGN 3.5 million. Through the purchase of Businessbank JSC the ministry will acquire all its receivables - BGN 1.9 million as well as its shares in Amteko JSC (72%) and Angora 99 JSC (99.99%).
Source: Banker (07.12.1999)

The World Bank determined new terms for completion of privatization and structure reform in Bulgaria. The new terms are conditions on FESAL loan - EUR 95.5 million, that was voted by the MPs on December 9th. Bank privatization must be completed by the end of June. The sale of DSK will start in January, 2001. The state stake in Central Cooperative Bank JSC has to fall under 33 per cent by the end of June 2000. CCB, Municipal Bank JSC and Promotional Bank JSC have to present in Washington their quarterly reports for the granted credits. Privatization in real sector has to end up to March.
Source: Standart (10.12.1999)

Till November 30th the profit of DSK Bank JSC was BGN 26 million, stated Executive Director Mrs. Violina Markova. At the end of October the profit was BGN 23.611 million. Up to the beginning of December attracted funds amounted to BGN 895.088 million. Receipts from non-financial institutions amount to BGN 552.535 million, which is nearly 52.8 per cent of the bank's total assets. The total amount of assets of the bank is BGN 1.045.775 million. The bank's deposit basis is BGN 895.482 million.
Source: Pari (22.12.1999)

We expect to start collecting currency deposits in March-April, 2000, stated the Executive Director of Bank DSK JSC Mr. Spas Dimitrov. BNB has not given a permission yet.
Source: Standart (27.12.1999)