The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Awards for excellence - Bulgaria

Best bank:


Best debt house:

Citigroup/Schroder Salomon Smith Barney

Best Equity House:

not awarded

Best M&A House:

CA IB, CSFB (joint award)

Bulbank has long been dominant in the Bulgarian market. But its sale to Unicredito and Allianz in October last year also put the bank in the top league for quality service. The new owners have a clear strategy for the region and have shown that they can turn state-owned institutions into dynamic and efficient banks. Accordingly, Bulbank has started to improve its asset structure and organization.

Particular emphasis has been puton the development of risk management and retail banking, where it comes second in market share only after the State Savings Bank.

As the former foreign trade bank, set up in 1964, Bulbank is undisputed leader in corporate banking. So far banks have preferred to invest in treasuries, but over the past year the economic environment has improved considerably, credit applicants have become more sophisticated and so lending activities have picked up.

As part of its restructuring programme Bulbank has also embarked on a financial plan, which aims at return on equity of 25% in three years.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree