The Bulgarian National Bank (BNB) has approved the merger of KBC Bank Bulgaria (former Raiffeisenbank Bulgaria) and the United Bulgarian Bank (UBB). The decision is in implementation of an instruction of the European Central Bank, the BNB said. The operation is part of the financial measures that need to be supported by the Bulgarian National Bank as a member of the Single Supervisory Mechanism (SSM). After the transformation, UBB becomes the universal legal successor of KBC Bank Bulgaria which is dissolved without liquidation.
The residential real estate market in Sofia in the second quarter of 2024 remains stable and active. Despite forecasts for a possible lull, the trends show a rise in prices and a significant increase in demand. This is shown by an analysis of one..
Sofia is the best city in Europe to retire to, according to a survey by the business solutions company Moneypenny, Forbes writes. The survey takes into account factors such as average cost of living, retirement savings needed, and a variety of..
The Bulgarian National Bank has lowered the base interest rate for the second consecutive month. As of August 1, it stands at 3.53%, down from 3.63% in July. Since the end of 2023, the base interest rate has been gradually falling. From February..
The European Bank for Reconstruction and Development (EBRD) has slightly lowered its growth forecasts for the regions in which it invests. Bulgaria's..
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