Bulgarian Development Bank AD

Bulgarian Development Bank is a state-owned bank focused on support of domestic small- and medium-sized enterprises.

Business Focus

Retail Banking For SMEs

Financials

Total Assets (2017)
2 471.14 mln BGN  (+29.29%)
Net Income (2017)
16.37 mln BGN  (-63.61%)

Bulgarian Development Bank AD is the 12th largest bank in Bulgaria in terms of total assets. In 2017 its total assets were 2 471,14 mln BGN, providing the bank with the market share of 2.53%. In 2017 the bank's net income was 16,37 mln BGN.

Bulgarian Development Bank AD is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BBB (good credit quality).

Bulgarian Development Bank AD participates in deposit guarantee scheme of Bulgaria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Contacts

10, Stefan Karadja Str., 1000, Sofia, Bulgaria

Bulgarian Development Bank AD is headquartered in Sofia.

Bank Identifiers

BIC (SWIFT)
NASBBGSF
MFI ID
BGNASB9620

Financial Positions

Total Assets (2017)
2 471.14 mln BGN  (+29.29%)
Total Equity (2017)
753.31 mln BGN  (-0.44%)

In 2017 total assets of Bulgarian Development Bank AD were 2 471.14 mln BGN. Growth compared to the previous period (2016) was 29.29%. The evolution of the total assets of Bulgarian Development Bank AD is shown at Chart 1 below.

Total Assets of Bulgarian Development Bank AD.

Chart 1. Total Assets of Bulgarian Development Bank AD.

Recent changes in total assets of Bulgarian Development Bank AD and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 82.5 498.8 +504.49%
Loans 1 417.2 1 583.0 +11.70%
Total Assets 1 911.4 2 471.1 +29.29%
Table 1. Recent changes in total assets of Bulgarian Development Bank AD (mln BGN).

Recent changes in total liabilities of Bulgarian Development Bank AD and its main components are shown in Table 2.

2016 2017 % change
Deposits 1 150.6 1 711.8 +48.78%
Total Liabilities 1 911.4 2 471.1 +29.29%
Table 2. Recent changes in total liabilities of Bulgarian Development Bank AD (mln BGN).

Profit and Loss

Net Income (2017)
16.37 mln BGN  (-63.61%)

Recent changes in gross profit of Bulgarian Development Bank AD and its main components are shown in Table 3.

2016 2017 % change
Interest Income 60.2 60.7 +0.85%
Interest Charges -3.7 -5.7 +55.48%
Commission Income 2.3 2.2 -6.91%
Commission Charges 0.0 0.0 0.00%
Table 3. Recent changes in gross profit of Bulgarian Development Bank AD (mln BGN).

In 2017 net income of Bulgarian Development Bank AD was 16.37 mln BGN. Decline compared to the previous period (2016) was -63.61%. The evolution of the net income of Bulgarian Development Bank AD is shown at Chart 2 below.

Net Income of Bulgarian Development Bank AD.

Chart 2. Net Income of Bulgarian Development Bank AD.

Market Share and Rank (among banks in Bulgaria)

Total Assets (2017)
12th (market share 2.53%)
Loans (2017)
11th (market share 2.65%)
Deposits (2017)
14th (market share 2.03%)

In 2017 Bulgarian Development Bank AD was ranked the 12th largest bank in Bulgaria in terms of total assets, having 2.53% of the domestic market share.

Market share of Bulgarian Development Bank AD (among banks in Bulgaria)

Chart 3. Market share of Bulgarian Development Bank AD (among banks in Bulgaria)

Several banks having the market shares and ranks closest to Bulgarian Development Bank AD are shown below.

RankNameTotal AssetsMarket Share
11 Allianz Bank Bulgaria AD2559.75 mln BGN2.62%
12 Bulgarian Development Bank AD2471.14 mln BGN2.53%
13 Investbank AD1981.98 mln BGN2.03%
 

Credit Ratings (as of May 2018)

Fitch Moody's
BBB (good credit quality) - (not rated)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. Bulgarian Development Bank AD is rated by Fitch.

Credit ratings assigned to Bulgarian Development Bank AD as of May 2018 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for Bulgarian Development Bank AD it is set to BBB (good credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for Bulgarian Development Bank AD is set to F2 (good short-term credit quality).

Long-Term Issuer Default Rating  BBB
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F2
Viability Rating  -
Support Rating  2
Support Rating Floor  BBB

Viability rating for Bulgarian Development Bank AD is not set support rating is 2 (high probability of external support); support rating floor is BBB (good credit quality).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Bulgaria are obliged to participate in Bulgarian deposit guarantee scheme.

In the case of Bulgarian Development Bank AD failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  all funds on a bank account (term deposit, demand deposit, savings or current account, etc)
Covered Currencies  all
Maximum Protected Amount  100 000 EUR
Paid In Currency  BGN

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of Bulgarian Development Bank AD and its components are shown in the table below.

BIC  NASBBGSF
Bank BIC Code  NASB
Country Code  BG (Bulgaria)
Location Code  SF
Branch Code  -

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of Bulgarian Development Bank AD is shown in the table below.

MFI ID  BGNASB9620