The Bigger Bulgarian Banks Give Bigger Rip Offs

UniCredit Bulbank may be the biggest but it is also the greediest. I know I have an account with them. I just loathe banks generally who feel that the customer is the least important factor in the business. They have caused this recession due to irresponsible lending over the years. When I see what has happened in Bulgaria with the wave of banks that have opened I can only fear for the Bulgarians who will be forced to open bank accounts and be pillaged with fees and interest rates. Up until now have had a cash driven society, but that isn’t acceptable in the EU soon all worker will have to be paid by bank transfer. First of course many Bulgarian have to find work!

UniCredit Bulbank and DSK Bank remain the largest Bulgarian financial institutions as the volume of their assets by June 30 2009 is BGN 11, 45 billion and BGN 8, 54 billion respectively, data of the Bulgarian National Bank shows. United Bulgarian Bank occupies the third position followed by Raiffeisenbank and Eurobank EFG.

First Investment Bank is sixth with assets of BGN 4, 18 billion, followed by Piraeus Bank, SG Expressbank, Alpha Bank and Corporate Commercial Bank.

The 11th position belongs to Central Cooperative Bank and EIBank with assets of BGN 1,8 billion each. The assets of Bulgarian Development Bank increased the most for the past 12 months (252%). Emporiki Bank and ING Bank also achieved a considerable growth of assets - 63% and 35% respectively. Regardless of the crisis, the assets of only 8 from a total of 30 Bulgarian banks have reduced. The leaders in this negative classification are Municipal Bank and BNP Paribas.

For the past 12 months the assets of the Bulgarian banks system gained 5, 67% to BGN 69, 5 billion,

Source: www.focus-fen.net
Image: Ambrosiana Pictures