26 February 2016, updated 12 April 2018
Typically for Eastern European countries, Bulgarian banking sector is characterized by relatively small size, small number of banks with wide business focus, high degree of concentration and high share of foreign capital.
The most commonly used ratio to measure the size of a banking sector, namely the ratio of consolidated banking assets to gross domestic product, for Bulgaria shows that its banking sector is roughly the same size as its national economy (the ratio is 99.22 %). Most of the banks operating in Bulgaria are universal banks providing products and services in retail and corporate banking. Loan to deposit ratio for the majority of banks in lower than 1, showing a responsible approach to financing and emphasising the self-funding ability of Bulgarian banks.
|Rank||Name||Total Assets||Market Share||Loans to Deposits||Country of Origin|
|1||UniCredit Bulbank AD||19096.09||19.52%||67.07 %||Italy|
|2||DSK Bank EAD||12150.12||12.42%||81.35 %||Hungary|
|3||First Investment Bank AD||8642.56||8.84%||65.92 %||Bulgaria|
|4||Eurobank Bulgaria AD||7421.47||7.59%||97.70 %||Greece|
|5||United Bulgarian Bank AD||7349.66||7.51%||65.10 %||Greece|
|6||Raiffeisenbank (Bulgaria) EAD||6997.36||7.15%||73.43 %||Austria|
|7||Societe General Expressbank AD||6430.31||6.57%||79.49 %||France|
|8||Central Cooperative Bank AD||5411.30||5.53%||53.55 %||Bulgaria|
|9||CIBANK JSC||3619.81||3.70%||85.02 %||Belgium|
|10||Piraeus Bank Bulgaria AD||3036.84||3.10%||73.09 %||Greece|
|11||Allianz Bank Bulgaria AD||2559.75||2.62%||51.28 %||Germany|
|12||Bulgarian Development Bank AD||2471.14||2.53%||92.47 %||Bulgaria|
|13||Investbank AD||1981.98||2.03%||48.69 %||Bulgaria|
|14||ProCredit Bank (Bulgaria) EAD||1964.11||2.01%||82.54 %||Germany|
|15||Municipal Bank AD||1510.47||1.54%||30.81 %||Bulgaria|
|16||International Asset Bank AD||1372.05||1.40%||58.50 %||Bulgaria|
|17||Bulgarian-American Credit Bank AD||1240.14||1.27%||75.54 %||Bulgaria|
|18||Citibank Europe plc, Bulgaria Branch||855.58||0.87%||15.52 %||Ireland|
|19||D Commerce Bank AD||758.86||0.78%||59.51 %||Bulgaria|
|20||BNP Paribas S.A. - Sofia Branch||735.98||0.75%||71.22 %||France|
|21||TBI Bank EAD||686.74||0.70%||87.73 %||Bulgaria|
|22||ING Bank NV - Sofia Branch||671.07||0.69%||51.79 %||Netherlands|
|23||Tokuda Bank AD||388.04||0.40%||59.00 %||Bulgaria|
|24||Texim Bank AD||220.01||0.22%||60.67 %||Bulgaria|
|25||Commercial Bank Victoria EAD||122.92||0.13%||30.42 %||Bulgaria|
|26||T. C. Ziraat Bankasi - Sofia Branch||113.40||0.12%||71.56 %||Turkey|
|27||Isbank AG - Sofia Branch (closed)||0.11||0.00%||0.00 %||Turkey|
All the data are for 2017. Total assets and net income are provided in million EUR.
Out of 27 banks operating in Bulgaria, there are 8 largest banks comprising together about 75% of consolidated banking assets, each of the banks has market share of more than 5% of total banking assets. Among these 8 banks only 2 banks have Bulgarian capital, while the other 6 are foreign-controlled banks.
3 largest banks, UniCredit Bulbank, DSK Bank and FI Bank, have been showing steady assets growth starting from 2008, while only UniCredit and DSK Bank have achieved an increase in net income, which resulted in high return on assets. Net income and return on assets of FI Bank have been slowly declining during 2008-2015, however in 2016-2017 FI Bank achieved substantial increase in net income and return on assets mainly due to more efficient management of assets and liabilities of the bank.