United Bulgarian Bank

Six Bulgarian banks rank in the Top 100 of the largest financial institutions in Central and Eastern Europe. DSK, First Investment Bank and UBB are making significant progress in the ranking compared to last year. It is composed by RIA Rating Agency on the order of Russia's leading financial site Prime.

KBC completed the acquisition of United Bulgarian Bank and Interlease from the National Bank of Greece for a total consideration of 610 million euros, representing a 1.10x multiple of the 2016 Tangible Book Value of UBB and Interlease. The acquisition - which was announced on 30 December 2016 - was approved by the relevant regulatory authorities and received anti-trust approval.

National Bank of Greece expects to sell its subsidiary Ethniki Insurance this year and plans other sales as part of its restructuring, its chief executive said on Wednesday.

Last month Greece's second largest lender hired Goldman Sachs and Morgan Stanley as advisers on the sale of the insurance unit, banking sources close to the deal said.

National Bank of Greece agreed to sell a 99.1 percent stake in its Bulgarian unit United Bulgarian Bank (UBB) and its fully owned leasing subsidiary Interlease EAD to Belgian bank KBC Group, National Bank said on Friday.

Belgian bank KBC and Hungarian lender OTP Bank have made offers to acquire United Bulgarian Bank (UBB), the Bulgarian subsidiary of National Bank of Greece (NBG), according to banking industry sources.

Bulgaria's Bulstrad, part of Vienna Insurance Group (VIG), has completed the acquisition of the country's bancassurer UBB-AIG, VIG said on Tuesday.

Simultaneously with the acquisition, a cooperation agreement with United Bulgarian Bank (UBB) has been signed, VIG said in a statement.

Greek-owned banks in the Balkans region were open on Monday, paying out cash and issuing loans -- in contrast to Greece, where a bank holiday and capital controls went into force, Reuters reported.

Bulgaria is among the countries with highest fiscal risk in the light of a possible Grexit scenario according to a Bloomberg report.

Bulgaria-based Bulstrad, part of Vienna Insurance Group (VIG), has signed a deal to acquire 100% of UBB-AIG and conclude a cooperation agreement with United Bulgarian Bank (UBB), VIG said on Tuesday.

The price of the deal wasn't disclosed but Bulstrad said last month it planned to acquire full control of UBB AIG by buying five million ordinary shares for a total of EUR 3.2 M.

Interior Minister Veselin Vuchkov has announced he had approved measures to step up security at bank offices where deposit holders will have access to their savings at Corporate Commercial Bank (Corpbank or KTB).

Thursday, December 4 is the first day of reimbursement, with deposit holders allowed to manage their assets over the next five years.