Bank profits in Bulgaria reached BGN 746 million in 2014 Although 2014 was challenging for Bulgaria and one of its biggest banks went bankrupt, Bulgaria’s banking system reported a profit of as much as BGN 746 million, or up 27.6% from 2013, BNB data show. At the same time, household income is decreasing. Depositors received less than BGN 1 billion from interest on their deposits for the first time in 6 years. BNB data as of end-2014 showed that deposits reached record-high BGN 41 billion. However, interest income amounts to only BGN 952 million compared to BGN 1.369 billion in 2013. Deposits in 2013 amounted to BGN 39.248 billion. BNB data show that deposits of physical persons in Corporate Commercial Bank (Corpbank) were redirected mainly to UniCredit Bulbank and First Investment Bank (Fibank). Central Cooperative Bank and Societe Generale Expressbank also attracted a lot of funds from Corpbank.
Source: Sega (09.02.2015)

The ex-Pliska hotel becomes Central Cooperative bank’s headquarters Central Cooperative bank is moving its headquarters in the ex-Sofia’s hotel Pliska. Instead at 103 G.S Rakovsky Street the bank’s headquarters will be at 87 Tsarigrasko shosse Boulevard. The bank bought the closed hotel in September 2013. Back then rumors were that it will be refurnished into a bank central office. Hotel Pliska is built at the end of 60ies as from the end of the 80ies of last decade it serviced passengers of BGA Balkan. After the national carrier in 2006 its bailiffs sold the hotel to Business center Izgrev from which CCB acquired it.
Source: money.bg (12.02.2015)

Aster 2000 acquires stake in Chimsnab Bulgaria Bulgarian chemical products supplier Chimsnab Bulgaria said on Thursday Sofia-based company Aster 2000 has acquired a stake of nearly 6.4% in it. Aster 2000 has acquired 159,322 shares in the company, Chimsnab Bulgaria said in a statement. Prior to the deal Aster 2000 held no shares in Chimsnab Bulgaria, the statement indicated. The value of the deal was not disclosed. It was registered with the country's Central Depositary on March 12. Chimsnab Bulgaria's scope of activity includes purchase, sales and distribution of chemicals, mainly to the food and beverage, coatings and basic chemicals, cosmetics, pharmacy and cleaning products industries.
Source: money.bg (20.03.2015)

Bulgarian software companies Magic solutions and Merar are to merge Bulgarian software companies Magic solutions and Merar investment network will merge. A new associate enters the future joint venture-lawyer Richard Cleg. New investment will be used for expansion of activity and development of new products. The Joint venture will combine Magic solutions’ experience in development of software products for financial companies with network of investors and companies from growing markets of Merar investment network, which uses the former services. The united group will strive for expansion on the markets in the UK, Ireland and the US. Magic Solutions is a developer of software applications for the financial and investment sector, mobile applications and complete solutions for corporate banking and international institutions. Its customers are companies such as Bulgartabac, Unicredit Bulbank, Sirma Group Central Cooperative Bank and others. Merar Investment Network is also a client of Magic Solutions, but it started as an online investment network for emerging markets, before introducing the software platform for the exchange of documents and information in a secure environment for business. Its customers are mainly investors and companies from the region of Asia and the Middle East.
Source: Capital (12.10.2015)

Five banks attract 77% from deposits in last 12 months Five of the banks operating in the country have attracted 77% of household deposits in the last 12 months. Leaders in this regard are UniCredit Bulbank and First Investment Bank, whose deposits recorded a growth of over BGN 1 billion- BGN 1.522 billion and BGN 1.119 billion respectively. Savings of Central Cooperative Bank and SG Expressbank have grown by more than BGN 800 million. Top five of the ranking is completed by DSK Bank, followed by Raiffeisenbank, Invest Bank, International Asset Bank, CIBANK and Allianz Bulgaria, which together with Bulgarian-American Credit Bank and Piraeus Bank added BGN 100 million new deposits. Reflux of new funds in the period is reported at Alfa Bank (BGN 257 million less), Postbank (BGN 181 million less), ProCredit Bank (BGN 171 less) etc. At the end of the third quarter of 2015 household deposits in the country were BGN 42.984 billion as compared to BGN 42.48 billion about three months ago and BGN 36.79 billion a year ago.
Source: profit.bg (05.11.2015)

The turnover on BSE decreased by 65% yoy in November Turnover on BSE decreased by 65% yoy to BGN 18.7 million in November 2015. Turnover for the last 12 months was BGN 363.8 million, decreasing by 63% yoy. Since the beginning of this year it amounted to BGN 331 million and was constituted basically in January with BGN 106 million. The weakest month was August with BGN 9.5 million. The largest turnover was accomplished with securities of Sirma Group Holding, or BGN 5.7 million in November. Remarkable results have Chimimport AD (ordinary shares) with BGN 1.18 million, Chimimport AD (preferred shares) with BGN 481 thousand, Advance Terrafund with BGN 1.05 million, Real Estate Fund Bulgaria REIT with BGN 808 thousand, Sopharma AD with BGN 747 thousand registered compensatory bills with BGN 497 thousand, CCB with BGN 328 thousand compensatory records with BGN 156 thousand and FairPlay Properties REIT with BGN 124 thousand. This totals BGN 11.5 million.
Source: investor.bg (11.12.2015)