Banks in Bulgaria

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.

RankNameTotal AssetsMarket ShareLoans to DepositsCountry of Origin
1 UniCredit Bulbank AD19096.09 19.52%67.07 % Italy
2 DSK Bank EAD12150.12 12.42%81.35 % Hungary
3 First Investment Bank AD8642.56 8.84%65.92 % Bulgaria
4 Eurobank Bulgaria AD7421.47 7.59%97.70 % Greece
5 United Bulgarian Bank AD7349.66 7.51%65.10 % Greece
6 Raiffeisenbank (Bulgaria) EAD6997.36 7.15%73.43 % Austria
7 Societe General Expressbank AD6430.31 6.57%79.49 % France
8 Central Cooperative Bank AD5411.30 5.53%53.55 % Bulgaria
9 CIBANK JSC3619.81 3.70%85.02 % Belgium
10 Piraeus Bank Bulgaria AD3036.84 3.10%73.09 % Greece
11 Allianz Bank Bulgaria AD2559.75 2.62%51.28 % Germany
12 Bulgarian Development Bank AD2471.14 2.53%92.47 % Bulgaria
13 Investbank AD1981.98 2.03%48.69 % Bulgaria
14 ProCredit Bank (Bulgaria) EAD1964.11 2.01%82.54 % Germany
15 Municipal Bank AD1510.47 1.54%30.81 % Bulgaria
16 International Asset Bank AD1372.05 1.40%58.50 % Bulgaria
17 Bulgarian-American Credit Bank AD1240.14 1.27%75.54 % Bulgaria
18 Citibank Europe plc, Bulgaria Branch855.58 0.87%15.52 % Ireland
19 D Commerce Bank AD758.86 0.78%59.51 % Bulgaria
20 BNP Paribas S.A. - Sofia Branch735.98 0.75%71.22 % France
21 TBI Bank EAD686.74 0.70%87.73 % Bulgaria
22 ING Bank NV - Sofia Branch671.07 0.69%51.79 % Netherlands
23 Tokuda Bank AD388.04 0.40%59.00 % Bulgaria
24 Texim Bank AD220.01 0.22%60.67 % Bulgaria
25 Commercial Bank Victoria EAD122.92 0.13%30.42 % Bulgaria
26 T. C. Ziraat Bankasi - Sofia Branch113.40 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.

Market Shares of Major Banks in Bulgaria

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.

Total Assets of Major Banks in BulgariaNet Income of Major Banks in BulgariaReturn on Assets of Major Banks in Bulgaria

See Also