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)

3 banks offer credits to those who want to buy a dwelling that will be used for business. Except DSK Bank, Bulgarian-American credit bank and Bulgarian Post Bank also finance the purchase of estates. The funds may be used for construction, repair of homes, shops, offices and for purchase of furniture and other household goods.
Source: Monitor (08.01.2001)

At its last Regular Meeting from the mandate State Security Commission decided to deprive the licenses of 6 brokers because of this that they have not exercised their activity for more than 2 years since the issue of their certificates. The Commission also decided to write in the register of the investment brokers City bank - Sofia and to erase Jonian and National Bank of Greece - Sofia.
Source: BTA (11.01.2001)

The 15th round of the privatization is starting today. There are offered 2 completely major stakes, there are shares from big companies like Agropolihim-Devnia and Himmach-Haskovo. Many of the offered companies show considerable improve of the financial indicators during the 9th months of 2000. The biggest growth is reported for Monbat JSC-Montana and Agropolihim JSC-Devnia and for some smaller companies. Totally 2 million shares will be offered and for the first time will be offered Securities from drug companies, for instance from Aptechno-Sofia.
Source: Pari (16.01.2001)

The capital of the Bank Consolidation Company /BCC/ will be increased from BGN 3.2 million to BGN 20.7 million through a non-monetary contribution. The decision was voted at the General Meeting of BCC. The increase will happen through issue of 17.5 million shares with a price of BGN 1, contributed entirely by the State. For this purpose the State will contribute in BCC 25 per cent from the capital of DSK Bank.
Source: BTA (01.02.2001)

The shareholders of Bank Consolidation Company voted at Extraordinary Meeting to be included in the capital of BCC as a non-monetary contribution 25 per cent from the shares of DSK Bank. With an issue of BGN 17.500 million, each share with face value BGN 1, the capital of BCC increase from BGN 3.200 million to BGN 20.700 million. The Minister of Finance Mr. Muravey Radev announced that the policy of BCC would be the privatization of the shares of DSK Bank.
Source: Pari (02.02.2001)

The funds on the accounts of the chamical plant Polimeri were spent, declared workers from the company. They sued the company for unpaid salaries ever since 1998 and 1999. The bailiffs, engaged with case found out only empty accounts. Now 10 people won the cases against the company but can't take their money. Another 500 people initiated similar claims in Devin District Court.
Source: Pari (07.02.2001)

The Chairman of the Parliamentary Economy Commission Nikola Nikolov suggested that compensatory notes to be allowed as payment instruments on the next round of centralized auctions. Shares in the most attractive enterprises, such as Bulgarian Telecommunication Company JSC, Bank DSK JSC, DZI Insurance Institute JSC, Bulgartabac, etc. will be offered. The idea was suggested as an addendum to the draft amendments to the act on the compensation of owners of nationalized estates, which was passed on the first reading yesterday. At the moment some 2.7 million people hold compensatory notes and investment vouchers. Of them 2 million hold vouchers. The act will allow payments of the 90 per cent of sales prices in privatization deals to be paid in compensatory notes.
Source: National radio (08.02.2001)

Sofia City Court registered the following change for DSK Bank - SP JSC: the prosecutor Mr. Nikolai Kavarjikliev was erased.
Source: State Gazette (09.02.2001)

The Government, which grants the budget to the legal authorities, recommends that the money should be deposited in CIBank, was announced by the speaker of SLC Mr. Yordan Ivanov. The bank of the Olimp Group is recommended for the servicing of the BGN 100 million budget of the legal authority for the first time. Until now the money were deposited in DSK (State Saving Bank), Biohim and Bulbank.
Source: 24 chasa (22.02.2001)

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)

Half a century has passed since the establishment of the State Saving Bank. The former saving bank, currently Bank DSK, is established with a decree of the Council of Ministers on March 2, 1951.
Source: Sega (02.03.2001)

The documents of Ms. Nina Stavreva who is the present Director of Treasury and National Debt department in the Ministry of Finance, have already been submitted in BNB in order to be issued a certificate as a member of the Board of Government of DSK Bank. This will not be her first participation in the Management of a state-owned bank. At the moment Ms. Stavreva is a member of the Supervisory Board of Promotional bank and most probably will leave this position in order to join the team of DSK Bank. Meanwhile it was decided that 25 per cent from the shares of the bank will be transferred for management to the Bank Consolidation Company that will sell them on the Stock Exchange.
Source: Capital (09.03.2001)

The Executive Director of DSK Bank Mrs. Violina Marinova declared that the profit of the bank for 2000 would exceed BGN 18 million. It is expected the bank to be re-registered from SP JSC to JSC, 75 per cent of which will be a property of the Council of Ministers and 25 per cent of the Bank Consolidation Company JSC. The General Meeting in April will decide how to be distributed the profit of DSK Bank for 2000.
Source: Banker (12.03.2001)

Financial services and products for service of the corporate sector will be presented as of March 20 to March 22 in the halls of the Central Military club. There will be presentation by Global Finance, bank Biohim, DSK Bank, ING Bank, Orbitel, Central Depositar and others. The topics include investments through shares, bank payments, e-banking.
Source: Sega (20.03.2001)

The General Meeting of Promotional bank voted the capital to be increased with BGN 8 000 000, was reported from the Ministry of Finance. From this amount BGN 300 have to be contributed by DSK Bank SP JSC, in accordance with its share of 0.004 per cent and the rest BGN 8 million will be provided by the Republican budget. The State, presented by the Ministry of Finance possesses 99.996 per cent from the capital of the bank. After the rise the capital of the bank becomes BGN 19 610 800. The General Meeting also elected the present auditor Earnst & Young for auditor of the bank for 2001. The net profit of the bank is BGN 78 166. According to decision of the General Meeting the profit will be referred to Reserve Fund.
Source: BTA (26.03.2001)

Bank DSK, First Investment bank, Municipal bank and Raiffeisenbank concluded a special agreement for payment of communal expenses through them. The clients of the banks could pay with their debit expenses for the heating services since the middle of March. It is expected other banks to join the system.
Source: ComputerWorld e-Daily (29.03.2001)

18 investment brokers have a license for trade with Securities abroad: ABV-investments, Aval, DSK Bank, Betacorp, Bulbrokers, V Vesta, Delta stock, DZI invest, Euro-finance, Ever, Elana, Eastern finances, Karol, First Financial Brokerage House, Citybank, Sofia-investment securities, Fina-S and Hedger.
Source: Pari (02.04.2001)

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 management of Tokuda Credit-Express will be officially taken on April 17. Chief Executive Director of the bank becomes the former Minister of Finance and former Director of Central and Cooperative Bank (CCB) Mr. Stoyan Alexandrov. For Executive Directors were defined other two famous bankers - Mr. July Popov also from CCB and Mr. Assen Drumev from DSK Bank. Major shareholder in the bank is Torao Tokuda who started the building of Japanese hospital in Sofia.
Source: Standart (17.04.2001)

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 profit of Bank DSK as of the end of March is in the amount of BGN 9.12 million, and after taxation it amounts to BGN 6.56 million, announced Ms. Violina Marinova, Deputy Chairman of the Board of Directors and Executive Director. The total amount of the assets grew and reached BGN 1.231 billion as of the end of the account period. The capital adequacy is 19.79 per cent. The deposit base as of March, 31 reached BGN 1.75. The currency deposits in BGN are BGN 52.2 million, which is a growth of 20 per cent compared to the end of February. The balance value of the credits, granted to the population in the end of March reached BGN 402.5 million, the trade deposits also increased by 3.63 per cent and are already in the amount of BGN 99.75 million. The consumer loans are BGN 425.400 million. They represent 84 per cent of this product on the bank market. The credits for purchase and construction of housings are in the amount of BGN 86.155 million. The saving deposits in the bank as a share of the market are 75.3 per cent and their amount is BGN 356 million. The credits for companies are BGN 113 million.
Source: Pari (26.04.2001)

The Council of Ministers decided to transform DSK Bank from SP JSC in JSC. The Deputy Minister of Finance Mr. Kiril Ananiev will represent the State in General Meeting of DSK-SP JSC.
Source: Standart (27.04.2001)

The total amount of the granted loans by DSK Bank over the last year is BGN 652 050 279. They are almost 60 per cent of its deposit base, according to the balance sheet of the bank as of April 20. From them long-term company credits are over BGN 53.8 million and the short-term - over BGN 52.9 million. The deposit base of the bank is over BGN 1.86 billion. The long-term credits for citizens and households are BGN 87.9 million and the short-term - BGN 446.1 million. The deposits in the bank are in amount of BGN 368 863 960 and its shareholders' equity is BGN 124 423 239.
Source: Standart (07.05.2001)

During April ten people have used the opportunity to pay their heath bills through bank automat, while during the past ten days of March when this service was offered for the first time their number was nine. Today this service is offered by some of the bank automats of nine banks Bank DSK, Purva Investiciona Banka, Obshtinska Banka, Raifaizen Bank /Bulgarioa/, Roseximbank, CCB, Biohim, Stopanska Investicionna Banka and BNB.
Source: BTA (08.05.2001)

The Board of Directors of Bank Consolidation Company postponed for consecutive time its decision for sale of Biohim bank, announced after the meeting the Deputy Prime Minister Mr. Petar Zhotev who is Executive Director of BCC. On March the Board of Directors was not pleased with the price of the sole candidate-buyer - Hebrosbank that then increased its initial offer with EUR 700 000. On May 8 Hebrosbank submitted a third approved offer that is going to be analyzed. Most probably the Board of Directors of BCC will have a meeting next week at which is expected the final decision for Biohim. Biohim reported a profit of BGN 9 million for April before taxation.
Source: BTA (09.05.2001)

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)

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)

As of June 1 DSK Bank will decrease the interest rate on credits for purchase and construction of homes. For credits that are paid with annual contribution, the interest becomes 15.5 per cent and for loans paid with monthly contributions - 14.5 per cent. The prime clients of the bank will receive credits at minimum interst of 11.5 per cent as of June 1 and for the standard clients the interst will be minimum 12.5 per cent as of July 1. The bank gives the opportunity of dealing of individual interest rates, fees and commissions with the business clients on the attracted funds according to definite criteria.
Source: BTA (23.05.2001)

By 20 per cent from BTC, DZI, DSK, Navigation Maritime Bulgare, NEC, Bulgargas, Bulgartabac and Trade Bank Biohim will be launched for privatization against Compesatory Vouchers. This will be a part of the election programme of National Movement Simeon II (NMS II). The economic team of NMS II developed offers that will create a real market of Compesatory Vouchers. Beside this the trade with Compesatory Vouchers will be remitted and will be made an uniform register for all Securities and will be listed on the Stock Exchange.
Source: Standart (31.05.2001)

Bank Consolidation Company (BCC) and Corporate bank agreed for decisions at the forthcoming on June 28 General Meeting of Central Cooperative Bank (CCB). This was announced by CEO of Corporate bank Mr. Tzvetan Vassilev who took part in the meeting of the Board of Directors of BCC. According to the Executive Director of BCC Mr. Petar Zhotev there is no any signed contract for such activities. Corporate bank possesses 24 per cent of the shares of CCB and has interest to sell them in cooperation with BCC that has 33 per cent of the shares. Mr. Zhotev thinks that the statute of CCB has to be changed.
Source: BTA (21.06.2001)

Bank DSK defined the parameters of the mortgage bond offered by the Government Board of the bank. The size of the issue will be between BGN 3 millions and BGN 8 millions. They will be in terms between 2 and 5 years. The profits are about 5-10 per cent, depending on the term. The bank has the biggest part in customers and mortgage bonds. The net profit of the bank for 2000 year is BGN 17,9 millions. It will transform from SP JSC to JSC.
Source: Sega (09.07.2001)

25 per cent of DSK have already become a property of BCC JSC. The decision is promulgated in State Gazette.
Source: 24 chasa (09.07.2001)

The new Minister of Finance Mr. Milen Veltchev announced yesterday that it was searched for a strategic investor for DSK. At least 51 per cent of the company must be sold within one year. The rest of the shares will be launched on the stock exchange in order to be stimulated the capital market in Bulgaria. In April the Council of Ministers decided to transform the company in JSC. 25 per cent of the shares of the State were transferred to BCC.
Source: Standart (26.07.2001)

The Minister of Finance Mr. Milen Veltchev announced that the privatization of DSK Bank had to finish within the end of 2002. The Parliament decided to convene Extraordinary General Meeting of DSK Bank in September. The Council of Ministers possesses 75 per cent of the shares. The General Meeting will be on September 19. At it will be changed the Supervisory Board of the bank. The Board of Government of the bank will be changed by the Supervisory Board. At least 51 per cent of its capital will be sold to strategic investor.
Source: BTA (03.08.2001)

The net financial result of Bank DSK as of June 30 is BGN 15.416 million, announced the chief executive of the bank Ms. Violina Marinova. The return of the assets is 1.80 per cent and that of the capital is 17.91 per cent. The deposits in the bank are BGN 1.149 billion. The exchange deposits have risen with 12.92 per cent and their equivalent is BGN 89.4 million. The general amount of credits is BGN 710 million. The loans for buying of hoses amount to BGN 96 million. The short-term loans of the companies amount to BGN 55 million and the long-term ones amount to BGN 54 million.
Source: Pari (03.08.2001)

The Minister of Finance Milen Belchev is the new representative of the Board of Directors of Bank Consolidation Company/BCC/. Yesterday finished all procedures over the court registration of the changes in the management of BCC, announced from the Ministry of Finance. Mr. Milen Velchgev takes the management of BCC from the former Minister of Finance Mr. Muravei Radev. The next General meeting of BCC is set down for the middle of September.
Source: Standart (09.08.2001)

The General Meeting of Bank DSK is set for 19 September, became clear from the publication of the invitation in State Gazette. The basic moment in the agenda is the change of the membership of the Supervisory Board of the Bank. It is sure that the member of the Parliament will be dismissed from Supervisory Board. After Mr. Kiril Ananiev became deputy-minister of Finance he will probably keep i his position. There will also be changes in the Board of Directors.
Source: Dnevnik (15.08.2001)

Mr. Asen Drumev is the new Executive Director of State Fund Agriculture, decided the Board of Government of the institution. During the period 1992-2000 he has occupied different positions in State Saving Bank (DSK). The former Executive Director of the fund Mr. Stoyan Hristov occupied this position since 1999. On yesterday's meeting of the Board of Government the fund decided to grant totally BGN 14 million for support of the autumn sowing. The money will be divided into two financial lines. The first one is for purchase of seeds and sowing of the bread wheat for the next sowing. The other line is for artificial fertilizers for the sown fields with wheat, barley, maze and sunflower. For both lines the financial support is equally distributed - BGN 5.3 million for each. The state subsidy is BGN 1.776 million. Fund Agriculture grants 60 per cent of the finance as a credit, 20 per cent as a subsidy and 20 per cent have to be own participation of the producer.
Source: Dnevnik (28.08.2001)

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)

According to spurious internet site www.dskbank,com, a program for non-interest credits amounting to BGN 5 000 each will start from September 3, 2001. With low interest rate will be granted credits up to BGN 10 000. With fax to BTA the managers of the bank said that the site has nothing to do with the bank. The official web page of the bank is www.dskbank.bg and is not yet launched.
Source: Dnevnik (01.09.2001)

The future reforms in the bank sector and the privatization of Biochim and State Saving Bank (DSK) had discussed the Minister of Finance Mr. Milen Velchev with the Swiss delegation from businessmen and representatives of the Ministry of Economy, which is on a visit in Bulgaria. They were interested in these sales. In the delegation there was a representative of Credit Swiss Bank. The Government intends to sell Biochim within the middle of next year and DSK within the end of 2002. An extraordinary General Meeting of DSK will take place next week.
Source: Sega (13.09.2001)

The management of Bulgarian Consolidation Company (BCC) will be replaced at the General Meeting of the shareholders. As a chairman of the Board of Directors of the bank holding officially will be appointed the Minister of Finance Mr. Milen Velchev. He received the position from Mr. Muravei Radev in the beginning of August. On the place of Mr. Petar Jotev as an inheritor was elected the Deputy Prime Minister Mr. Nikolay Vasilev and Mr. Plamen Oresharski will be replaced in the Board of Directors by the Deputy Minister of Finances Mr. Krasimir Katev. From the initial version the management team drops out Mrs. Sofia Kasidova., Deputy Minister of Economy. The new management of the BCC has to find a purchaser of 99.6 per cent of the capital of Biochim Bank and for 32.7 per cent of the capital of Central Cooperative Bank. A lot easier will be the sale of the minor share of 25 per cent of State Saving Bank DSK.
Source: Dnevnik (17.09.2001)

Four ministers will enter the management of Bank Consolidation Company. This decision was made by the shareholders of the holding at a General Meeting yesterday. The new directors are the Deputy Prime-minister Mr. Nikolay Vasilev, Mr. Kostadin Paskalev, Mrs. Lidia Shuleva and the Minister of Finance Mr. Milen Velchev. The fifth member of the Board of Directors becomes the member of BNB Mr. Svetoslav Gavriyski. On 5 November will take place a new General Meeting of BCC. On it will be made a proposal the Board of Directors to be enlarged from 5 to 7 members. For new members will be offered the Deputy Minister of Finance Mr. Krasimir Katev and |Mrs. Neli Kordovska who will become an Executive director. Temporary an Executive director will be the Deputy Prime-minister Mr. Nikolay Vasilev. After the General Meeting of BCC took place the first meeting of the Board of Directors. On it was decided the participation of BCC in the General Meetings of and the Supervisory boards of State Saving Company DSK, Biochim Bank and Central Cooperative Bank.
Source: Standart (18.09.2001)

The advisor of the President on the economic questions Mr. Krassimir Angarski is the new Chairman of the Board of Management and Executive Director of DSK Bank. The Deputy Minister of Finance Mr. Kiril Ananiev will be a Chairman of the Supervisory Board of the bank. The Deputy Minister of Economy Ms. Lujbka Kachakova and the Chief Secretary of the Council of Ministers Mr. Sevdalin Mavrov are also included in the Board. Within 2-3 months will become clear if there will be attracted foreign consultants on the privatization of DSK. The bank will be privatized by 2002, explained the Minister of Finance Mr. Milen Veltchev.
Source: Novinar (20.09.2001)

On September 24 Bank Supervision of BNB issued licenses for qualification and professional experience of the newly selected members in the Board of Government of DSK Bank, according to the requirements of the Banks Act. On September 19 in the Board of Government of Bank DSK were selected Mr. Krassimir Angarski, Mr. Raiko Karagiozov, Mr. Ognian Jordanov and Mr. Stoyan Penkov. The documents for registration of the new Management are deposited in the Court and is expected to take the management soon.
Source: BTA (26.09.2001)

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)

Mr. Lubomir Minchev is the new Chairman of the Board of Biohim. Two months ago he was Executive Director of the investment broker Global securities. Executive Director and member of the Board of Government will be Mr. Nikolai Kavarjikliev.
Source: Pari (04.10.2001)

The Board of Management of Trade Banks Associations accepted the resignation of Mr. Spas Dimitrov as a Chairman of the Board of Management in accordance to the statute of the branch organization. Mrs. Vania Vasileva was elected for a Chairman - Chief Executive Director of Municipal Bank and former Deputy Chairman of the Board of Management Trade Banks Associations.
Source: Pari (12.10.2001)

Sofia City Court registered changes for Bank DSK JSC. As members of the Board of Directors are wrote off Mrs. Eliana Maseva, Mr. Kiril Ananiev - Chairman, Mr. Sevdalin Mavrov- Deputy Chairman and Mrs. Lyubka Kachakova. As members of the Board of Management are wrote off Mr. Spas Dimitrov, Mrs. Violina Spasova, Mr. Christofor Pavlov, Mr. Vladimir Toshev and Mrs. Nina Stavreva. The new Bioard of Management consists of Mrs. Krasimir Angarski - Chairman, Mrs. Violina Spasova, Mr. Raiko Karagiozov, Mr. Ognyan Jordanov and Mr. Stoyan Penkov. The company is represneted by two of the Executive Directors Mr. Krasimir Angarski, Mrs. Violina Spasova, Raiko Karagiozov and Mr. Ognyan Jordanov.
Source: State Gazette (12.10.2001)

Sofia City Court registered changes for Bank DSK SPJSC. The form of the name of the company is changed to Bank DSK JSC. The court registered changes in the statute of the company and in its activity. The bank has the right to attract public deposits and to use the attracted sums for investments and credits, to perform trade deals. The court accepts the annual accountant report of the bank for 2000.
Source: State Gazette (12.10.2001)

The main priority of the Government is to reach 5-7 per cent average annual economic growth for the period 2002-2005. This was announced by the Deputy Prime Minister and Minister of Economy at the representation of the long-term Governmental strategy. The Prime Minister Mr. Koburgotski has introduced the programme of the Government to the Chairman of the European Commission Mr. Romano Prodi. The economic growth will be reached by attracting of USD 1-1.2 billion foreign investments annually. Part of the investments will come from BTC, State Saving Bank DSK and Biochim.
Source: Pari (24.10.2001)

The list of the enterprises, shares of which will be sold at the Stock Exchange for restitution bonds is ready. It was approved by the deputy minister of Finances Mr. Kaloyan Ninov. Among the companies are Bulgartabak, State Saving Bank DSK and BTC. The deals for the privatization will pass through Bulgarian Stock Exchange. The bonds will not be used for paying on face value. They will be reduced through a coefficient. at the moment the securities are traded at 16-17 per cent but their owners hope that the price will reach 40 per cent of the face value. The unused securities are for about BGN 1 billion.
Source: Standart (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)

The Ministry of Social Affairs offers the small credits to start in 5 regions - Vratza, Turgovishte, Vidin, Razgrad and Silistra. The project will be submitted in the Government together with the conditions for application and the guarantee schemes on the loans.
Source: Trud (31.10.2001)

Two or three large state companies will be traded in full amount in Compesatory Vouchers of the Stock Exchange. There is an opportunity that Bank DSK will be among them. The purpose is the Compesatory Vouchers to be sold within a term of six months. The initial idea was that they will be used only for the purchase of minor stakes of 15 large enterprises among which were BTC, Bulgartabak Holding, Navigation Maritime Bulgare.
Source: Sega (06.11.2001)

Bank DSK and Datamax have concluded a contract according to which the financial institution will be connected to the system for payments through Internet. This is the seventeenth bank which offers to its clients an opportunity for electronic payments. As for 31 October the payments performed through the e.Pay system are in amount of BGN 884 413.
Source: Black sea (16.11.2001)

DSK Bank sold to the American company LNC Recovery Fund its receipt from the bankrupted Business bank that exceeds BGN 16 million. The financial analysts claim that the Americans paid for it over DEM 1.6 million. The dealed agreement is profitable considering the chances of DSK Bank to receive funds from the bankrupted debtor are very insignificant. The assets that are left from the former Business Bank will become property of State Claims Agency within the end of the year.
Source: Banker (19.11.2001)

The Deputy Prime Minister Mr. Nikolai Vassilev declared that Bulgaria expected over USD 1 billion investments from Germany over the next year. He also added he hoped for a serious interest by the foreign country in the field of energetics. According to him BTC and Bulgartabac holding will be privatized within April 2002. Within the end of the next year there have to be privatized Biochim and DSK.
Source: Standart (20.11.2001)

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 Director of Doverie-Capital JSC Mr. Andrei Evtimov received the Burov award for industrial management for the investment programme for attracting foreign investments.
Source: Sega (28.11.2001)

Since march 2002 on the Stock exchange will be offered shares from the Bulgarian giants for privatization with Compesatory Vouchers and notes, announced yesterday the Deputy Chairman of the Association of the owners of Compesatory Vouchers Mr. Valentin Hristov. At the Exchange will be sold shares from State Saving Institute, Bulgarian telecommunication Company, Navigation Maritime Bulgare, Bulgartabac holding, HPS -Varna and electricity-distribution companies. For three of them was decided that for bonds will be sold up to 15 per cent of the shares.
Source: Standart (11.12.2001)

The more quickly finishing of the privatization is one of the engagements that were taken by the Government before IMF. The recommendation of the Manager of the mission Mr. Gerald Shiff to the Government is the big companies among which are BTC, Bulgartabac and Biochim to be privatized in 2002. The Minister of Finance Mr. Milen Veltchev said that within March has to be selected a strategy for privatization of DSK and to be declared a new competition for buyer of DZI.
Source: Standart (17.12.2001)

State Saving Bank rescheduled the issuing of mortgage bonds. The initial intentions of Bank DSK were to issue bonds at a value of BGN 8 million, but the interest is for much bigger amount. As for 30 November the attracted means in State Saving Bank are more than BGN 1.1 billion. The amount of the allowed credits for them are BGN 524 million for current use and BGN 102 million for construction of purchase of a residence. The finances attracted from corporate clients are in amount of BGN 125.5 million.
Source: Black sea (21.12.2001)