Established in 1996, Municipal Bank AD operates as a universal commercial bank, providing a broad range of retail and business banking products and services to private individuals and companies.
Becoming a client of Municipal Bank AD can be done in a few steps:
Due to regulatory requirements Municipal Bank AD performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Municipal Bank AD will ask him/her to provide the following documents: passport; proof of address. For corporate clients Municipal Bank AD will ask to provide corporate documentation as well as information about controlling persons. Municipal Bank AD may request additional documentation or information depending on the case. Municipal Bank AD performs client's identity verification via branch visit.
Municipal Bank AD is the 12th largest bank in Bulgaria in terms of total assets. In 2019 its total assets were 2 045,60 mln BGN, providing the bank with the market share of 1.79%. In 2019 the bank's net income was 1,19 mln BGN.
Municipal Bank AD is rated by Moody's. Long-term credit rating assigned to the bank by Moody's is Ba2 (non-investment grade speculative).
Municipal Bank AD participates in the deposit guarantee scheme of Bulgaria. This deposit guarantee scheme applies to all funds on a bank account made by natural persons (Bulgarian and foreign), legal entities (Bulgarian and foreign) and covers up to up to 100,000 EUR per bank per depositor. Municipal Bank AD is a member of Bulgarian Deposit Insurance Fund (BDIF) and makes its contributions into it.
Municipal Bank AD is headquartered in Sofia.
Municipal Bank AD is authorized and supervised by the Bulgarian National Bank.