Austria's Raiffeisen Zentralbank (RZB) launched a subsidiary in Bulgaria in October 1994, becoming the first western bank to establish a unit in Bulgaria.
Prior to establishing the unit, RZB said it had sold its 33% equity stake in the Bulgaria Bank for Agricultural Credit (BAC) to the local Daru Group. Due to its interest in agriculture, RZB acquired a stake in BAC in 1991 but later decided to pull out and invest only in its newly-established subsidiary. In December 2005, Raiffeisenbank Bulgaria launched a fully-owned asset management subsidiary called Raiffeisen Asset Management. In March 2006, the assets management arm launched four investment funds that invest mainly in Bulgarian securities. The same month, Raiffeisen set up an insurance brokerage in Bulgaria to carry out intermediary services between the clients of Raiffeisen's Bulgarian bank and the leading insurance companies in the country. In 2009, Raiffeisen acquired a 20% stake in local Cash Services Company.
The bank operates more than 150 units throughout the country. It provides a full range of banking services and products, including account and payment services, retail banking services, trade finance services, corporate finance services, treasury and investment services, custodian services and correspondent banking services.
Expo 2000, 55 Nikola Vaptsarov Blvd.
Sofia; Sofia - city; Postal Code: 1407
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