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BACB AD (Bulgaria)

Main Activities: Commercial Banking
Full name: Bulgarian American Credit Bank AD Profile Updated: June 05, 2019
Buy our report for this company USD 29.95 Most recent financial data: 2018 Available in: English & Bulgarian Download a sample report

Private commercial bank Bulgarian-American Credit Bank (BACB) was established in July 1996. The core activity of the bank is to provide credits to small and medium-sized enterprises, to finance construction and tourism projects as well as provide mortgage lending. The bank was licensed with a share capital worth BGN 450 million, of which over 90% was owned by the Bulgarian-American Enterprise Fund (BAEF). BAEF is a private U.S. corporation established in 1991 by the U.S. Congress through the Support for East European Democracy Act.
In 2000, BACB started to attract deposits mainly from banks and institutional investors. The bank broadened the scope of its operations in 2002 when it started conducting cash and deposit operations. In April 2006, BACB raised EUR 55.7 million in an initial public offering on Bulgaria's stock exchange by successfully placing 30% of its capital to institutional and private investors.
In February 2008, Irish financial group Allied Irish Banks Plc bought 49.99 per cent in BACB from the Bulgarian-American Enterprise Fund (BAEF) in a deal subject to regulatory approval from the Bulgarian and Irish central banks. The buyer paid EUR 216.2 million for the stake. BAEF retained 3.89% in the bank. In mid-2010, Allied Irish Banks and Gramercy Emerging Markets Fund announced plans to sell their stakes in the bank. In summer 2011, local investment company CSIF (Clever Synergies Investment Fund) acquired a 49.99% stake in the bank from Allied Irish Bank. In October it raised its stake to 56.37% following a capital increase. CSIF is a private investment company where shareholders are local businesswoman Tsvetelina Borislavova and the established by her fund Credo Bonum.

Headquarters
2 Slavyanska Str.
Sofia; Sofia - city; Postal Code: 1000

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Website: http://www.bacb.bg

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
December 03, 1996
Key Executives
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Member of the Management Board
Ownership Details
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61.429%
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35.53%
Subsidiaries
BACB Finance EAD
100%
Bacb Trade EAD
100%
Company Performance
Financial values in the chart are available after BACB AD report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency BGN. Absolute financial data is included in the purchased report.
Net interest income
16.23%
Net fee and commission income
28.65%
Operating profit (EBIT)
21.1%
Net Profit (Loss) for the Period
5.88%
Total assets
13.87%
Total equity
7.06%
Total Assets Trend
1.94%
Net Interest Income Trend
0.68%
Cost to Income Ratio
-1.24%

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