KBC Bank Bulgaria explained

KBC Bank Bulgaria
Foundation:1994
Former Name:Raiffeisenbank (Bulgaria) EAD
Industry:Financial services
Location:Sofia, Bulgaria
Num Employees:over 3,000 (as of December 2010)
Parent:KBC Group (since 2022)
Assets:6 450.20 mln BGN (2015)[1]
Equity:€460.79 mln (2015)

On 10th of April 2023, UBB and KBC Bank Bulgaria officially united after the re-organization of KBC Bank Bulgaria EAD, through its merger into United Bulgarian Bank AD, was entered in the Commercial Register. The legal merger is the next step in the integration of the two banks after the Belgian KBC Group acquired the business of Raiffeisen Bank International in Bulgaria in the summer of 2022.

KBC Bank Bulgaria (previously known as Raiffeisenbank (Bulgaria) EAD) is fully licensed bank with operations in Bulgaria and abroad. KBC Bank Bulgaria is a universal bank, providing a full range of banking products and services to large corporate customers, small and medium-sized enterprises, retail clients and institutional clients.

total assets amounted to BGN 6.56 billion ranking it as the fourth[2] largest bank in the country. Over 3000 employees of service more than 730 000 customers through a network of 188 branches. The bank has also built an Agent Network of mobile bank consultants.

KBC Bank Bulgaria is a 100% subsidiary of Belgium based KBC Group. KBC Group is a multi-channel bank-insurer, focusing on private clients and small and medium-sized enterprises in Belgium, Bulgaria, Czech Republic, Hungary, and Slovakia.

History

The bank was established in 1994 under the Bulgarian Law on Banking and Credit Activities.

On July 8, 2022 the bank was acquired by Belgium KBC Group from Austria's Raiffeisen Bank and rebranded as KBC Bulgaria.[3]

On 10th of April 2023, UBB and KBC Bank Bulgaria officially united after the re-organization of KBC Bank Bulgaria EAD, through its merger into United Bulgarian Bank AD, was entered in the Commercial Register.

Awards

Corporate social responsibility

KBC Bank Bulgaria's donation initiative “Choose to help”[12] which started in 2009 is part of the bank's corporate social responsibility policy and aims at supporting charity initiatives in four basic categories: health, ecology, social projects and projects in the field of education and culture.

Notes and References

  1. https://thebanks.eu/banks/10761 Bank Profile: Raiffeisenbank (Bulgaria) EAD
  2. Web site: Distribution of Banks by Groups as at 30 June 2011 . Bulgarian National Bank.
  3. News: Belgium's KBC Bank closes buy of Raiffeisenbank Bulgaria . July 8, 2022 . Antonia Kokalova-Gray . SeeNews.
  4. Web site: Awards for socially responsible business . BNR.
  5. Web site: Societe Generale Expressbank Grab's Bulgaria's '2010 Bank of the Year' Prize, July 6, 2011. Novinite.com.
  6. Web site: Mystery Shopper Award. Association Bank of the Year .
  7. Web site: BBLF Annual Awards. Bulgarian Business Leaders Forum. dead. https://web.archive.org/web/20110905042036/http://www.bblf.bg/projects.php?sub=award&year=8. 2011-09-05.
  8. Web site: Bulgarian 'Bank of the Year' Association Set Up in Sofia, May 11, 2010 . Novinite.com.
  9. Web site: Award Winners : The World's Best Internet Banks, 2005 Part 2 . Global Finance.
  10. Web site: Central and Eastern Europe. 30 June 2000. Euromoney.com.
  11. Web site: Deutsche Bank distinguished Raiffeisenbank Bulgaria, 22 July 2011 . Focus-fen.net.
  12. Web site: Online Charity Campaign for Hospitals and Orphans, December 17, 2009. Standart daily .

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