Corporate Commercial Bank

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.

Financials

Total Assets (2013)
6 740.30 mln BGN  (+19.60%)
Net Income (2013)
71.20 mln BGN  (+25.85%)

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.

Contacts

10, Graf Ignatiev Str., 1000, Sofia, Bulgaria

Corporate Commercial Bank was headquartered in Sofia.

Bank Identifiers

BIC (SWIFT)
KORPBGSF
MFI ID
BGKORP9220
Close Date
July 2014

Financial Positions

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.

Total Assets of Corporate Commercial Bank.

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.

2012 2013 % change
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.

2012 2013 % change
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).

Profit and Loss

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.

2012 2013 % change
Interest Income 324.1 440.5 +35.93%
Interest Charges -226.7 -352.4 +55.45%
Commission Income 15.0 17.8 +18.86%
Commission Charges -3.1 -5.3 +70.45%
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.

Net Income of Corporate Commercial Bank.

Chart 2. Net Income of Corporate Commercial Bank.

Market Share and Rank (among banks in Bulgaria)

Total Assets (2013)
4th (market share 7.86%)
Loans (2013)
4th (market share 7.68%)
Deposits (2013)
4th (market share 8.28%)

In 2013 Corporate Commercial Bank was ranked the 4th largest bank in Bulgaria in terms of total assets, having 7.86% of the domestic market share.

Market share of Corporate Commercial Bank (among banks in Bulgaria)

Chart 3. Market share of Corporate Commercial Bank (among banks in Bulgaria)

Several banks having the market shares and ranks closest to Corporate Commercial Bank are shown below.

RankNameTotal AssetsMarket Share
3First Investment Bank AD7445.94 mln BGN8.84%
4Corporate Commercial Bank (closed)6740.30 mln BGN7.86%
5United Bulgarian Bank AD6715.12 mln BGN7.51%
 

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 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)
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 Corporate Commercial Bank and its components are shown in the table below.

BIC  KORPBGSF
Bank BIC Code  KORP
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 Corporate Commercial Bank is shown in the table below.

MFI ID  BGKORP9220