Bulgarian Business Club Newspaper

Posts tagged with the keyword: ‘Bulgarian National Bank’

Bulgaria’s FDI Down by 95% in January-February 2010

Bulgaria’s FDI Down by 95% in January-February 2010

Bulgaria’s foreign direct investments showed a staggering 95% drop in the first two months of 2010, year-on-year, the country’s central bank announced. According to preliminary data of the Bulgarian National Bank released Thursday, the net FDI in Bulgaria in January and February of 2010 was only EUR 28 M (0.1% of the GDP). In the [...]

BNB Head: Bulgaria Banks with 50% Smaller Profit in 2009

BNB Head: Bulgaria Banks with 50% Smaller Profit in 2009

The combined profit of the banks in Bulgaria will decline by 50% in 2009 compared to 2008. This has been forecast by Ivan Iskrov, head of the Bulgarian National Bank, as cited by the Pari Daily. Thus, the total profit of the Bulgarian banks is expected to amount to BGN 700 M in 2009. The [...]

Bulgaria Central Bank Governor Slams Eurozone Double Standards

Bulgaria Central Bank Governor Slams Eurozone Double Standards

Bulgaria National Bank Governor, Ivan Iskrov, has stated that Bulgaria is very well prepared and generally meets the criteria for entry into the eurozone. Iskrov said that the BNB will “fully support the government when it decides to send an application for admission into ERM 2.” He was explicit that membership in the eurozone is [...]

Central Bank Data Shows 350 Bulgarian Millionaires

Central Bank Data Shows 350 Bulgarian Millionaires

A total of 349 Bulgarians had official bank accounts with over EUR or BGN 1 M by the end of September 2009, according to statistics of the Bulgarian National Bank. 214 Bulgarians have deposits of over EUR 1 M in Bulgarian banks. Another 117 hold deposits of over BGN 1 M. Only 18 are the [...]

Central Bank Head: Bulgaria Banking System Sound despite Crisis

Central Bank Head: Bulgaria Banking System Sound despite Crisis

Bulgaria’s banking system is stable and has good indicators, according to Bulgarian National Bank Governor, Ivan Iskrov. During the Fourth Annual Meeting of Government and Business in Sofia Tuesday, Iskrov said the banking system in the country had high capital adequacy, and continued to be profitable. He cited data showing that in the first nine [...]

Finance Minister Exposes Predecessor’s Secret Deal with Bulgaria’s Fiscal Reserve

Finance Minister Exposes Predecessor’s Secret Deal with Bulgaria’s Fiscal Reserve

Bulgaria’s former Finance Minister, Plamen Oresharski, and the Central Bank Governor Ivan Iskrov had a secret deal for depositing about 14% of the fiscal reserve into commercial banks. This was announced Friday by Bulgaria’s Finance Minister, Simeon Djankov, after his predecessor Oresharski slammed the 2010 draft budget, and asked what was going to happen with [...]

New Deputy Governor of Bulgaria Central Bank Sworn into Office

New Deputy Governor of Bulgaria Central Bank Sworn into Office

Kalin Hristov, the newly-appointed Deputy Governor of the Bulgarian National Bank, was sworn in at the Parliament on Thursday. Kalin Hristov is coming into office for a six-year term. He is taking over the Emission Department of the BNB from outgoing Deputy Governor Tsvetan Manchev. The Emission Department is in charge of the currency peg [...]

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