Corporate Commercial Bank was a Bulgarian bank, founded in 1994. The bank was growing rapidly in 2007-2013 and went bankrupt in 2014. On December 4, 2014 Bulgarian Deposit Guarantee Fund began paying of insured deposits to depositors of Corporate Commercial Bank.
Corporate Commercial Bank was the 4th largest bank in Bulgaria in terms of total assets. In 2013 its total assets were 6 740,30 mln BGN, providing the bank with the market share of 7.86%. In 2013 the bank's net income was 71,20 mln BGN.
Corporate Commercial Bank participates in deposit guarantee scheme of Bulgaria. This scheme covers accounts up to 100 000 EUR per bank per depositor.
Corporate Commercial Bank was headquartered in Sofia.
|Total Assets (2013)|
|6 740.30 mln BGN (+19.60%)|
|Total Equity (2013)|
|605.56 mln BGN (+34.80%)|
In 2013 total assets of Corporate Commercial Bank were 6 740.30 mln BGN. Growth compared to the previous period (2012) was 19.60%. The evolution of the total assets of Corporate Commercial Bank is shown at Chart 1 below.
Chart 1. Total Assets of Corporate Commercial Bank.
Recent changes in total assets of Corporate Commercial Bank and its main components are shown in Table 1.
|Cash and deposits with Central Banks||748.1||999.3||+33.58%|
|Loans||4 066.9||4 985.5||+22.59%|
|Total Assets||5 635.9||6 740.3||+19.60%|
|Table 1. Recent changes in total assets of Corporate Commercial Bank (mln BGN).|
Recent changes in total liabilities of Corporate Commercial Bank and its main components are shown in Table 2.
|Deposits||5 176.3||6 116.8||+18.17%|
|Total Liabilities||5 635.9||6 740.3||+19.60%|
|Table 2. Recent changes in total liabilities of Corporate Commercial Bank (mln BGN).|
|Net Income (2013)|
|71.20 mln BGN (+25.85%)|
Recent changes in gross profit of Corporate Commercial Bank and its main components are shown in Table 3.
|Table 3. Recent changes in gross profit of Corporate Commercial Bank (mln BGN).|
In 2013 net income of Corporate Commercial Bank was 71.20 mln BGN. Growth compared to the previous period (2012) was 25.85%. The evolution of the net income of Corporate Commercial Bank is shown at Chart 2 below.
Chart 2. Net Income of Corporate Commercial Bank.
|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 Corporate Commercial Bank 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)|
|Maximum Protected Amount||100 000 EUR|
|Paid In Currency||BGN|
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 Corporate Commercial Bank and its components are shown in the table below.
|Bank BIC Code||KORP|
|Country Code||BG (Bulgaria)|
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 Corporate Commercial Bank is shown in the table below.