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ING Bank N.V. Sofia Branch (Bulgaria)

Main Activities: Commercial Banking
Full name: ING Bank N.V. - Sofia Branch 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

Dutch financial services firm ING Groep NV received permission to establish a full banking operation in Bulgaria in July 1994. ING Bank opened its first branch in Bulgaria in October 1994. The lender initially focused on corporate banking and facilitating payments and transfers, trade treasury products on global markets, as well as providing import and export financing. In January 1995, the bank announced expansion of its services in Bulgaria in debt-to-equity swaps, insurance and traditional banking activities. In June 1996, ING Bank set up a privatisation fund in Bulgaria jointly with the Bulgarian Post Bank. The fund was set up with capital of BGN 20 million, where Post Bank and ING participated with 50% each. Bulgaria-Dutch privatisation fund enjoyed huge interest and became the third-largest fund in Bulgaria in terms of capital during the first wave of mass sell-off, managing to attract 160,000 voucher holders. In January 1998, the bank withdrew from the fund, which was transformed into a holding company called Bulgarian Holding Company.
ING Bank launched services for individuals in 2000. In May 2001, ING Groep bought 70% of Bulgaria's pension insurance company Solidarnost renaming it to ING Pension Insurance Company. In April 2006, the Dutch group launched life insurance operations in Bulgaria.

Headquarters
49B Bulgaria Blvd., entr. A, fl. 7
Sofia; Sofia - city; Postal Code: 1404

Contact Details: Purchase the ING Bank N.V. Sofia Branch report to view the information.

Website: https://www.ingwb.bg/

Basic Information
Total Employees:
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Financial Auditors:
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Incorporation Date:
July 26, 1994
Key Executives
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Executive Director
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Executive Director
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Executive Director
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Executive Director
Ownership Details
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100%
Company Performance
Financial values in the chart are available after ING Bank N.V. Sofia Branch 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
50.99%
Net fee and commission income
14.48%
Operating profit (EBIT)
N/A
Net Profit (Loss) for the Period
N/A
Total assets
10.83%
Total equity
6%
Total Assets Trend
-21.32%
Net Interest Income Trend
N/A
Cost to Income Ratio
-29.81%

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