Investment banking

Analysts are split on when Greece may return to investment grade, in what is seen as a difficult year for the eurozone bond market due to the ECB's aggressive stance, while the national elections are firmly on investors' radars.

Fitch Ratings announced on October 1 that they had affirmed Bulgarian Development Bank AD's (BDB) Long-Term Issuer Default Rating (IDR) at 'BBB'. The Outlook on the Long-Term IDR is Positive.

The BDB reported the news in a press release on Tuesday.

The Bulgarian Development Bank has stated to the European Commission its desire to attract additional funds for the rehabilitation and development of small and medium-sized businesses. This will be done through the InvestEU program. The total resource that the bank will be able to have is up to BGN 1.7 billion.

The Sofia City Court (SCC) issued an opinion on Saturday in connection to what they deem an unprecedented statement made by caretaker Economy Minister Kiril Petkov on June 25, 2021 in the Panorama programme on Bulgarian National Television. Petkov's statement assessed a SCC decision in an unacceptable manner, the disseminated opinion reads.

The Management Board of the Bulgarian Development Bank (BDB) Monday refused to provide the bank's audit committee with information on the BDB's credit files, caretaker Economy Minister Kiril Petkov told reporters on Tuesday. In his words, the refusal read, "The information on the credit files is ready, but we will not give it to you."

Caretaker Minister of Economy Kiril Petkov removed from office members of the current Supervisory Board of the Bulgarian Development Bank (BDB), Dimitar Simeonov and Velina Burska. The proposed replacements are Vasil Shtonov and Valentin Mihov.

Remote working is now one of the top daily challenges facing traders and a development that will likely boost the use of technology and electronic trading in the months ahead, a survey by JPMorgan released on Tuesday showed.

Athens-listed Mytilineos Group is ready to tap the international capital markets in the next few months, well-informed banking sources say.

The Bulgarian Development Bank provides relaxed conditions for loans up to BGN 1 million for small and medium enterprises.

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.