Postbank (legally known as Eurobank Bulgaria AD) is an universal Bulgarian bank, which offers a full range of banking services and products: various types of accounts and deposits, consumer loans, mortgage loans, special products for financing small enterprises and entrepreneurs, corporate credits, mutual funds, investments and cash management, foreign exchange transactions, credit and debit cards, bank guarantees and letters of credit, securities trading and trade finance activities.
Bulgarian commercial bank Postbank was first established in April 1991 and Eurobank EFG Bulgaria AD was created after the merger of Bulgarian Postbank and DZI Bank in November 2007. In November 1998, Bulgarian government sold 78.23% of Postbank to a venture between American Life Insurance Company (ALICO), part of American International Group Inc., and Greece’s Consolidated Eurofinance Holdings (CEH) for USD 38 million. ALICO/CEH boosted its stake in Postbank to 86.24% under an equity increase in 2000.
In July 2004, EFG Eurobank – Ergasias officially announced that it had acquired 96.74% of the shares in Postbank for an undisclosed sum.
January 2005 – the lender launched a leasing company EFG Leasing, which offers financial leasing for industrial, transport, commercial, construction and other equipment. In March, same year, Postbank set up another leasing company – EFG Auto leasing, which offers financial and operational leasing schemes for all types of vehicles, as well as sub-leasing for corporate and individual clients.
At the end of 2006 Eurobank EFG group acquired control of Bulgarian DZI Bank, as a result of the conclusion of the acquisition of 74.26% of DZI Bank’ s shares through the Sofia Stock Exchange, following an agreement dated September 29, 2006 with DZI Bank shareholders to acquire their participation in the bank. As a result of additional transactions with international institutional investors at the Sofia Stock Exchange, by the end of December 2006 Eurobank EFG Group acquired control of over 90% of DZI Bank.
Netherland’s EFG New Europe Holding and Greek EFG Eurobank Ergasias controlled almost 90% of the bank as of end-2009.
Eurobank Bulgaria operates through a network of more than 180 branches all over the country.
260 Okolovrasten Pat Str.
Sofia; Sofia - city; Postal Code: 1766
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