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D Commerce Bank AD (Bulgaria)

Main Activities: Commercial Banking
Full name: D Commerce Bank AD Profile Updated: September 09, 2019
Buy our report for this company USD 29.95 Most recent financial data: 2018 Available in: English & Bulgarian Download a sample report

D Commerce Bank, which is successor of Demirbank Bulgaria, is servicing mostly Turkish companies operating in Bulgaria. Bulgarian central bank licensed Demirbank Bulgaria for operations both in the country and abroad in March 1999. At the onset, Demirbank Bulgaria, which had an equity capital of USD 8.4 million, was fully-owned by Turkey's Cingilli Holding AS, which was the owner of Turkey's Demirbank. In end-2000, Turkish authorities nationalised Turkey's ninth biggest bank Demirbank and put it under control of the state Banking Supervision Board. Demirbank Bulgaria was not affected by the troubles of its parent company since it operated as a Bulgaria-registered entity with a separate balance sheet rather than as a branch of Demirbank.
In July 2001, global bank HSBC Holdings purchased all the domestic assets of Demirbank. Six bids were filed for the acquisition of a 100% in Demirbank Bulgaria - Italian banking group UniCredito, the Dutch-based TBI Holding, Japan's Tokushokai Corporation, Bulgarian foreign trade firm Chimimport, a Turkish consortium and the Turkish company Bilgi Dis Ticaret. In September 2001, Demirbank Bulgaria was purchased by a Turkish consortium comprising of the former owner of the bankrupt Turkish bank, Halit Cingillioglu and Aydin Dogan, the owner of Dogan Holding. The Turkish consortium offered a total of USD 95 million to acquire control over Demirbank's subsidiaries in Bulgaria, the Netherlands, Kazakhstan and Kyrgyzstan. In October 2004, the Dogan family became owner of 60% in Demirbank Bulgaria. The bank changed its name into D Commerce Bank at the end of 2004 to reflect the new ownership structure of the bank. In September 2006, Bulgaria's central bank allowed Turkish businessman Fuat Guven to buy 100% of D Commerce Bank equity. D Commerce Bank operates a network of more than 50 branches and offices across the country.

Headquarters
8 Gen. Totleben Blvd.
Sofia; Sofia - city; Postal Code: 1606

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Website: http://www.dbank.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:
April 15, 1999
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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Member of the Management Board
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Member of the Management Board
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Member of the Management Board
Ownership Details
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66.7%
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33.3%
Subsidiaries
D Imoti EOOD
100%
D Insurance Broker EOOD
100%
D Leasing EAD
100%
Company Performance
Financial values in the chart are available after D Commerce Bank 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
3.42%
Net fee and commission income
-5.15%
Operating profit (EBIT)
-27.26%
Net Profit (Loss) for the Period
-56.16%
Total assets
12.8%
Total equity
19.5%
Total Assets Trend
-0.72%
Net Interest Income Trend
-7.5%
Cost to Income Ratio
8.09%

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