DSK Bank, the second largest bank in terms of assets in Bulgaria, is owned by Hungary's biggest commercial bank OTP.
OTP bought DSK Bank for EUR 311 million in October 2003 and vowed to spend some EUR 300 million to revamp the Bulgarian bank and boost its competitiveness over the next five years.
DSK Bank is the successor of the State Savings Bank - the oldest commercial bank in Bulgaria. In February 2005, DSK launched an investment vehicle called DSK Asset Management, which invests most of its assets in fixed-income securities. In April 2005, Bulgaria's financial watchdog licensed the general insurance unit of DSK called DSK Garancia. In September 2005, DSK Asset Management launched its first mutual fund, DSK Standard fund, which focuses on investments in fixed-income securities. In 2008, DSK and OTP sold their shares in local general and life insurers- DSK Garancia and DSK Garancia Life, to French insurance company Groupama.
The lender provides commercial banking services through a nationwide network consisting of more than 300 branches.
ul. Moskovska 19
Sofia; Sofia - city; Postal Code: 1036
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