DSK Bank signed an agreement with the Fund of Funds in Support of SMEs DSK Bank has signed a guarantee agreement with the Fund for Manager of Financial Instruments in Bulgaria (the Fund of Funds), through which it will finance micro, small and medium enterprises (SMEs) affected by the pandemic. By joining the guarantee instrument of the Fund of Funds, DSK Bank will again support the liquidity needs and the implementation of investment projects of small and medium enterprises in Bulgaria.
Source: investor.bg (08.01.2021)

KCM agreed on the entire financing for its investment project for EUR 130 million The Plovdiv metallurgical plant KCM has agreed on the last part of the financing for its project for more efficient use of raw materials for EUR 130 million. After signing an agreement with the European Investment Bank (EIB) for half the amount a year ago, the last EUR 25 million from Unicredit Bulbank were approved at the end of December. The remaining funds are provided equally by United Bulgarian Bank (UBB) and DSK Bank. The last contract for financing the project was signed with Unicredit Bulbank on December 23. KCM has a long-term partnership with the bank, which is also involved in lending to the plant's previous major project, Technological Renewal and Expansion (TORP), which ended in 2014 and was worth nearly EUR 150 million. A loan for it was also granted by the European Bank for Reconstruction and Development. For the current project - "Technological Integration of KCM", earlier last autumn EUR 20 million of loans were also provided by UBB and DSK Bank. The largest part of the financing - EUR 65 million, comes from the EIB, the contract with which was signed in December 2019. So far it has not been announced whether and how much is the company's own financing for the new investment. After an entirely new lead plant was built in the previous project and the zinc production was modernized, the company now plans to integrate the technological processes on the site so that it can make the most of the raw materials. This will allow it to increase the share of recycled materials, as well as to produce new metals such as cobalt, copper and others. The project is expected to be completed in 2023-2024. The plant in Plovdiv is the largest producer of zinc and lead in Southeast Europe. For 2019 the revenues of KCM are over BGN 700 million.
Source: Capital (12.01.2021)

Bulgaria is writing a plan to adopt the euro in 2024 Bulgaria expects to join the euro area in 2024. A National Plan for the introduction of the euro is being prepared, which will describe in detail the activities to be undertaken by the Bulgarian authorities and business for the successful introduction of the single European currency in the country. This was stated by the Minister of Finance Kiril Ananiev during the annual Euromoney Forum for Central and Eastern Europe, which for the first time in its 26-year history is held virtually in the period 12-14 January 2021. The focus of the event is financial and the economic challenges facing the countries of the region, with the participation of representatives of the European Commission, the European Bank for Reconstruction and Development, the European Investment Bank, investment intermediaries, banks.
Source: Sega (13.01.2021)

Five banks in the top list by assets for 2020 manage BGN 82.6 billion Five of the 23 banks and branches operating in Bulgaria hold 66.6% of the assets of the entire banking system. Despite the crisis, the total amount of all bank assets at the end of December 2020 increased by BGN 4.8 billion to BGN 124 billion, BNB reported. The top list by assets is headed by UniCredit Bulbank, DSK Bank, UBB, Eurobank and First Investment Bank. 2020 ended without a shift in this top five. They manage BGN 82.6 billion. The system's equity is also growing - by the end of December it was BGN 240 million more than in September and is now BGN 15.4 billion. However, the pandemic has shrunk the banking system's profits by more than 50% - to BGN 815 million, which is BGN 860 million less than reported at the end of December 2019. The data of the central bank shows that the liquidity buffer is BGN 36.2 billion, and the so-called liquidity coverage, which guarantees the stability of the currency board is as much as 279%. The main reasons for the reduced profit are the shrinking difference between interest rates on loans and deposits, a slight decline in total revenue from fees and commissions, sale of mortgaged property at lower or flat prices, rising costs of financial impairment, shrinking financial assets for trading.
Source: 24 chasa (02.02.2021)

Nearly BGN 305 million are the approved loans under the two guarantee programs of BDB Nearly BGN 305 million have been approved by commercial banks under the two guarantee programs in support of businesses and individuals managed by the Bulgarian Development Bank (BDB). This is shown by the data as of February 8, the state bank announced. About 1,311 is the number of confirmed for guarantee business loans with a total value of nearly BGN 164 million. The average amount of loans is almost BGN 125 thousand. The biggest interest comes from the sectors of trade and tourism, production and transport. Among the supported are also companies in the field of construction, agriculture, services and advertising. Although large enterprises can now be funded under the program, only micro, small or medium-sized enterprises are still supported. The largest share is of small enterprises - 51%. Second are micro-enterprises with 29%, and last place is occupied by medium-sized enterprises with a share of 20%. The BDB guarantees loans of up to BGN 1 million for small and medium enterprises and up to BGN 2 million for large companies that suffer negative consequences from the pandemic. The loans are granted by nine partner banks with reduced collateral requirements, reduced interest rates and the possibility of a grace period of up to three years. Partner banks can include both new and existing loans in the program. The condition is that the companies experience difficulties in 2020 and have not been overdue for more than 90 days in the last year. The financial institutions granting the loans are Allianz Bank, DSK Bank, Bulgarian-American Credit Bank, Investbank, First Investment Bank, Postbank, D Commercial Bank, UniCredit Bulbank and UBB.
Source: investor.bg (10.02.2021)

Only three of the largest banks in the EU have subsidiaries in Bulgaria Only four of the largest banks in EU are represented in Bulgaria - three with subsidiaries and one with a branch. This shows the ranking of S&P Global Market Intelligence. For the eighth consecutive year ¹1 in the ranking is the British NSBC Holdings PLC. The London-based giant managed assets of EUR 2.419 trillion at the end of 2019, EUR 254.76 billion more than the French BNP Paribas SA, which occupies the second position in the ranking (it has a branch in Bulgaria). Another French bank, Cr?dit Agricole Group (with assets of EUR 2.011 trillion), ranks third, ahead of Spain's largest bank, Banco Santander SA (EUR 1.517 trillion). The French Soci?t? G?n?rale is fifth in the ranking (it had a subsidiary bank in Bulgaria, which it sold to DSK Bank in 2018). Deutsche Bank remains Germany's largest bank. However, it fell three positions and is eighth with assets of EUR 1.298 trillion. The appreciation of the British pound against the euro in 2019 helped Barclays to take sixth place with assets of EUR 1.346 trillion. The French Groupe BPCE is one position ahead of the German Deutsche Bank, and all the top 8 banks have assets of over EUR 1 trillion. The top 10 is complemented by the British Lloyds and the Italian Intesa. Italy's Unicredit ranks 13th in Europe with assets of EUR 855 billion. The next bank represented in Bulgaria is the Belgian group KBC Group, ranked 28th. In Bulgaria it owns United Bulgarian Bank. The Austrian Raiffeisen Bank occupies the 46th position, as its subsidiary Raiffeisenbank Bulgaria is the third, represented in Bulgaria from the top 50. Germany has seven representatives among the 50 largest banks in Europe, while France and Great Britain have six each.
Source: Sega (15.02.2021)

The strong year of the industrial park near Elin Pelin Sofia Industry East Park, which is building and managing the logistics park at the entrance to Elin Pelin station, reports revenues for 2019 of nearly BGN 23 million - a sevenfold increase compared to the previous one. The profit is nearly BGN 8.5 million. The company commented that the significant increase in revenues is not from its main activity, but from the sale of assets. The transport and logistics companies Orbit and Queenberger Logistics leased 11,000 square meters of warehouses in the logistics park near Elin Pelin in 2018, and in 2019 Orbit acquired the leased premises. Sofia Park Industrial Park is a private industrial zone on the land of Elin Pelin station. So far, eight buildings have been built in the park with over 80,000 square meters of warehouses for rent and sale. Land with infrastructure was bought by three production companies with international participation (Triza, Talar Foods - former Kenar, Uniconf) and the central archive of DSK Bank. In early September and Building 3 in the park, which is 22 thousand square meters, received Act 16 and is now on the market for rent. The investment in it amounted to EUR 9 million. A contract has already been signed for part of the building (about 4000 sq.m). According to sources in the real estate market, the deal is with the Lidl retail chain. The plans of the joint-stock company were to start the construction of three new buildings with an area of ??33,000 sq.m. The plans included investing in a new multimodal terminal on the site of the former Isis plant, using the available railway infrastructure, as well as building budget housing units to attract labor. Most likely, all this is on pause due to the economic crisis and the COVID-19 pandemic. The logistics park currently has 18,000 square meters of free storage space waiting for tenants.
Source: Capital (09.03.2021)

A merger of banks in Bulgaria is expected Mergers of banks operating in Bulgaria are forthcoming. This is predicted by Deloitte Central Europe in a study on mergers and acquisitions in the banking sector in Central and Eastern Europe (CEE). "The dynamics of development of the banking markets in Bulgaria and Europe is obvious. Given the challenges posed by COVID-19 and the changing needs of bank customers, digitalization, the speed of service delivery and improved products will be a major driver of the development of Bulgarian banking institutions. And they cannot be achieved without efficiency, resource optimization and economies of scale. In this sense, consolidation is a way to make this happen, so it will continue (albeit at a slower pace) in the coming years, "said Silvia Peneva, managing partner of Deloitte Bulgaria. Since 2015, there are 6 major transactions on the Bulgarian banking market. From the third quarter of 2019 until now there are no new mergers and acquisitions, but further consolidation in the sector is expected, as the concentration of the Bulgarian banking market is relatively low, the analysis says. The Bulgarian banking sector has seen strong growth since the 2008 crisis in terms of total assets. The main driver of enlargement in 2019 is the growing income of the people, which stimulates the demand for banking products. In terms of asset quality, there is also an improving trend. Although levels of bad credit are still relatively high compared to other CEE countries, they have been steadily declining over the past four years, according to the analysis. The banking sector in Bulgaria is dominated by large subsidiaries of European banking groups, which own most of the total assets. As a result of the acquisition of Piraeus Bank by Postbank, as well as the acquisition of Soci?t? General Expressbank by DSK Bank, the banking sector in Bulgaria is becoming increasingly concentrated in line with the regulator's strategy to reduce the number of banking licenses and improve the capital base, the study on mergers and acquisitions said.
Source: Trud (24.03.2021)

Over 2,000 new interest-free loans are launched by BDB Approximately 2014 loans of a total value of almost BGN 10 million are the approved interest-free loans for individuals, which will be granted after the restart of the anti-crisis program of the Bulgarian Development Bank (BDB) was announced two weeks ago. In March, by a decision of the Council of Ministers, the program was increased by BGN 100 million to continue supporting the injured employees and self-insured persons who cannot work due to the COVID-19 pandemic. Thus, since the beginning of the measure until now, the number of approved interest-free loans is already over 39,790, and their total value is almost BGN 178 million. The partner banks that have confirmed their participation in the renewed program and are already accepting applications for interest-free loans up to BGN 6,900 are First Investment Bank, Investbank, UniCredit Bulbank, United Bulgarian Bank and Raiffeisenbank. The Central Cooperative Bank is expected to resume accepting documents within days. The number of confirmed for guarantee loans under the anti-crisis program in support of business is 1414, as their total value exceeds BGN 205 million. Thus, in total, under the two measures - for individuals and companies, BDB has confirmed loans worth over BGN 383 million. BDB guarantees loans of up to BGN 1 million for small and medium enterprises and up to BGN 2 million for large companies that suffer negative consequences from the pandemic. The loans are granted by 9 partner banks: Allianz Bank, DSK Bank, Bulgarian-American Credit Bank, Investbank, First Investment Bank, Postbank, D Commercial Bank, UniCredit Bulbank and UBB. Loans guaranteed by BDB are granted with reduced collateral requirements, with a lower interest rate and with the possibility of a grace period of up to 3 years. The average amount of loans so far is BGN 145,200. The largest is the share of micro and small enterprises - 76%, second are medium-sized enterprises with 21%, and the smallest is the share of large companies - 3%. The application deadlines for both guarantee programs have been extended until June 2021.
Source: Banker (14.04.2021)

With regard to a request filed by DSK Bank AD Investment Intermediary, BSE withholds the rights of Nikolay Maryov Vanyov granting him access to the BSE Trading System as of 09 June 2021.
Source: BSE (09.06.2021)

Five banks are starting to lend to small businesses under the new COVID scheme Five banks are already providing loans under the new COVID program for small and medium-sized businesses, announced by the caretaker government. These are Postbank, DSK Bank, United Bulgarian Bank, Raiffeisenbank and First Investment Bank. They will provide loans to SMEs, as long as the companies have at least three financial years behind them, at least one of which is profitable. The agreements of the five banks with the state represented by the Fund of Funds have already been signed. This was announced by the finance and economic ministers at a general briefing on the business scheme. The total state guarantee is worth BGN 2.5 billion. The loans under the program, which the companies can take, are released from collateral, as 70% of the guarantees are covered by the state through FNF, and 20% remains a risk for the bank. The loan must be repaid to the banks within seven years, with the possibility of a grace period for the former. Interest rates on loans are market-based and will not be preferential. Minister Vassilev pointed out that the condition is at least one natural person, the owner of the enterprise must be a co-debtor of the loan. In total, a small or medium-sized enterprise can receive a loan of up to BGN 3 million or up to 80% of the company's turnover for 2019 or 2020, depending on which of them is higher.
Source: economic.bg (23.06.2021)

11 banks with a profit of over BGN 10 million each by June 30 The banking system ended the first half of 2021 with a profit of BGN 659 million, compared to BGN 515 million a year earlier. A reference to the data from the Bulgarian National Bank showed that a total of 11 of the Bulgarian banks ended the second quarter of the year with a profit of over 10 million dollars. We remind you that due to the COVID-19 pandemic, only nine of them had a similar financial result for the period January 1 - June 30, 2020. The leading positions are for DSK Bank and Unicredit Bulbank, which reported a profit of BGN 224 and 186 million, respectively. In total, the two largest banks in the country have realized 62 percent of the profits of the banking system. Postbank, which is celebrating its 30th anniversary this year, ranks third in terms of profit as of June 30th. It reached BGN 84.3 million, compared to BGN 75 million 12 months earlier. The three most profitable institutions improved their financial results compared to a year earlier.
Source: profit.bg (03.08.2021)

Bulgarian Stock Exchange plans six-month dividend Bulgarian Stock Exchange JSC will distribute the net profit for the first half of the year and will pay a 6-month dividend. The decision will be made by the extraordinary general meeting of shareholders, which will be held on October 12. For this to happen, the six-month financial statements of the Bulgarian Stock Exchange JSC for the first half of this year must be accepted. The net profit of the company, according to the prepared six-month financial report for the period between January and June, amounts to BGN 4.88 million. The managers propose to distribute as a 6-month dividend to the shareholders BGN 0.55 per share. The maximum amount required for the payment of this amount, when exercising the right to dividend on all shares, amounts to BGN 3.62 million. In accordance with the Regulations of the Central Depository JSC, the dividend will be paid to the shareholders who have opened client accounts with investment intermediaries - through the respective investment intermediary. Shareholders without accounts with investment intermediaries will receive their dividend through the branches of DSK Bank in the country.
Source: Banker (02.09.2021)

Elana Financial Holding AD-Sofia (229F) Elana Financial Holding published information on a concluded loan agreement with DSK Bank AD for financing the company's activities. The entire piece of news is published on the financial website X3News.
Source: BSE (30.09.2021)

Elana Financial Holding has disbursed a BGN 700,000 loan from DSK Bank Elana Financial Holding AD has utilized a loan of BGN 700,000 (EUR 647,858.41) from DSK Bank to finance the company's activities, the company announced through the website x3news.com. The loan repayment period is September 14, 2026. The interest rate is calculated as 1-month EURIBOR plus a surcharge of 2.3%, and the annual interest rate cannot be lower than 2.3%.
Source: investor.bg (01.10.2021)