Bulgarian Foreign Trade Bank

(redirected from Bulbank)
Also found in: Wikipedia.

Bulgarian Foreign Trade Bank

 

a state bank in charge of all settlement operations on exports and imports and on payments of a noncommercial character with foreign countries. It records credits granted by Bulgaria to other states and by other states to Bulgaria, payments on these credits, and clearing agreements. The bank also grants credits to foreign trade enterprises in international currency and in leva, and acts as a clearinghouse between foreign trade enterprises and other enterprises and organizations in the country. It is in charge of the purchase and sale of international currency, payment documents and valuables in national and international currency, and other operations. It has been operating since Apr. 1, 1964. The stockholders of the bank are the Bulgarian People’s Bank (which owns 74 percent of the capital stock), the Ministry of Finance, the Ministry of Foreign Trade, the Ministry of Transportation and Communications, several foreign trade enterprises, and others. The agencies of the bank are the general meeting and the bank’s council and board. The capital stock of the bank has been fixed at 40 million leva.

L. KH. SULIAEVA

References in periodicals archive ?
Global Banking News-July 7, 2015--UniCredit Bank Austria and UniCredit Bulbank offer facility to Business Park Sofia
He has also worked as head of the aCredita unit of Bulbank and executive director of Roseximbank and Municipal Bank.
The murder of the head of the Burgas branch of UniCredit Bulbank highlighted the need for a swift solution to the problem.
But Levon Hampartzoumian, chief executive of UniCredit Bulbank and head of the Association of Banks in Bulgaria, said that the continued uncertainty in Greece would not trigger "dramatic failures" of banks in Bulgaria.
Bulbank that there are some elements in place in Cuba that might inspire optimism for the island's economic future.
in the Ukraine; Postabank in Hungary; and BULBANK in Bulgaria.
2 or to be paid into the account of University Hospital" Razlog "Ltd at Bank" Unicredit Bulbank "AD, Razlog branch, IBAN BG36UNCR75271051537116, BIC UNCRBGSF.
The nine financial companies are: Allianz Bank Bulgaria, DSK Bank, United Bulgarian Bank, First Investment Bank, Raiffeisen Bank (Bulgaria), CIBANK, UniCredit Bulbank, Central Cooperative Bank and Eurobank Bulgaria (Postbank).
DSK Bank follows UniCredit Bulbank with assets worth BGN8.
It has taken into consideration the opinions of the Central Bank - BNB, the Financial Supervision Commission, the Association of Banks in Bulgaria, the Bulgarian Leasing Association, and UBB competitors such as Unicredit Bulbank, DSK Bank, Reiffeisen Bank, First Investment Bank, Societe Generale Expressbank, Corporate Commercial Bank, Pireus Bank, MKB Union Bank, Allianz Bank, Central Cooperative Bank, and UBB and Post Bank main customersAccording to data of the Bulgarian watchdog, by the end of September, the two banks had under 25% market share in all segments.
Bulgarian non-performing loans, meaning those that have not been serviced for more than 90 days, will peak at the end of 2012 or early in 2013, when they are expected to make up 17-18 per cent of the banking sector's loan portfolio, according to Levon Hampartsoumyan, chief executive of UniCredit Bulbank.
Bulgaria's state-owned railway company Balgarski darzhavni zheleznitsi (BDZ) was in late August in discussions with the World Bank, the European Bank for Reconstruction and Development (EBRD), Deutsche Bank and UniCredit Bulbank to seek an international syndicated loan of BGN460mn (US$298mn).