Basic information
of the bankUniCredit Bulbank is the largest commercial bank in Bulgaria and is part of the leading European banking system of the Italian UniCredit Group. It is not a state-owned or joint venture bank, but a commercial bank fully controlled by UniCredit S.p.A., demonstrating the global vision and local execution of a multinational bank. With its robust operations and extensive service network, it plays the role of a "bellwether" in the Bulgarian financial market.
name and background
full name: UniCredit Bulbank AD
Founded: Originally operated in 1964 as Bulgarian Foreign Trade Bank (BFTB), it was officially renamed UniCredit Bulbank in 2007 through the merger of Bulbank, Biochim and Hebros Bank.
Headquarters location: 7 Sveta Nedelya Sq., 1000 Sofia, Bulgaria.
Shareholder background: 100% owned by UniCredit S.p.A., the parent company UniCredit is a public company listed on the Milan Stock Exchange and the Frankfurt Stock Exchange, Italy, with no single controlling shareholder and a diversified shareholder structure, including institutional investors such as Capital Research and Management Company (about 5%). With a history dating back to Banca di Genova, founded in 1870, the UniCredit Group is a testament to its deep European financial heritage.
service scope
coverage area: mainly serving Bulgaria, relying on the UniCredit group network, indirectly supporting Central and Eastern Europe, Italy, Germany, etc 13 core markets to provide seamless financial services to cross-border customers.
Number of offline outlets: As of 2024, UniCredit Bulbank has about 150 branches in Bulgaria, covering major cities such as Sofia, Plovdiv, Varna, etc., with a balanced network layout for the convenience of urban and rural customers.
ATM distribution: With more than 800 ATMs across the country, some of which support cardless withdrawals and foreign currency exchange, it can be called a "financial touchpoint everywhere". In addition, sharing the ATM network with other banks further enhances convenience.
regulatory and compliance
Deposit Insurance: Full participation in the Bulgarian Deposit Insurance Fund, which provides deposit protection of up to €100,000 (approximately BGN 196,000) per depositor, ensuring the safety and security of funds.
Compliance Record: UniCredit Bulbank has a strong compliance record and has not seen any major regulatory penalties or scandals. At the Group level, there was attention for the disposal of non-non-performing loans in the non-Bulgarian market, but this did not affect the solid image of its Bulgarian subsidiary.
Regulators: Directly supervised by the Bulgarian National Bank (BNB) and supervised by the Bulgarian Financial Supervision Commission (FSC).
financial health
capital adequacy ratio: UniCredit Bulbank's capital adequacy ratio (Tier 1) is approximately 18% in 2024 , far exceeding the minimum requirement of the National Bank of Bulgaria (8%), showing strong resilience to risks.
Non-performing loan ratio: around 3.5%, below the industry average, thanks to the strategy of the parent company UniCredit Group to dispose of non-performing loans on a large scale between 2015 and 2017 (such as the sale of 93 million euros of non-performing assets to B2Holding).
Liquidity Coverage Ratio: Over 150%, well above the 100% required by the European Union, demonstrating the bank's ability to cope with short-term liquidity stress.
Deposit & Loan Products
deposits:
demand deposits: low annualized interest rate (about 0.01%-0.1%), suitable for daily money management.
Term Deposits: Offer terms ranging from 1 month to 36 months, with interest rates varying depending on the term and amount, up to 1.5% (e.g. 36-month time deposits).
Featured products: Launched "Standard Fixed Deposit" and "Accumulation Account", the latter of which allows for flexible deposits and is suitable for long-term savers. Large certificates of deposit (CD) products have more attractive interest rates of up to 2% (subject to longer maturity).
Loans:
Mortgages: Fixed or variable rates (based on EURIBOR/SOFIBOR + 2%-4% spreads) with loan amounts up to 80% of the value of the property, repayment terms of up to 30 years, and early repayment options available.
Car loans: The interest rate is about 3%-5%, supporting the purchase of new and used cars, the approval is fast, and some products are free of guarantees.
Personal Line of Credit: Unsecured interest rate of around 5%-8%, up to 50,000 leva, flexible repayment period (up to 7 years).
list of common expenses
account management fee: about 2-5 leva per month for a regular current account, Some premium accounts, such as private bank accounts, are exempt from the monthly fee, but a minimum balance (around 5,000 leva) is required.
Transfer fee:
- Domestic
transfer: free of charge via Bulbank Mobile or online banking, over the counter transfer is about 1-3 leva.
Cross-border transfers: EUR transfer fees are around 0.1% (minimum €5) in the EEA and higher in non-EEA regions (around 0.2%, minimum €20).
Overdraft fees: The interest rate on credit card or account overdrafts is around 12%-15%, calculated on a daily basis.
ATM inter-bank withdrawal fee: The bank's ATM is free, the inter-bank ATM is about 0.5-1 leva each time, and the overseas ATM withdrawal is about 2 euros + 1% of the transaction amount.
Hidden Fee Warning: Be aware of the minimum balance requirement (some accounts below 100 Leva will be subject to a 2 Leva penalty per month) and the penalty interest on early withdrawal of fixed deposits (reduced to the current interest rate).
digital service experience
- APP
and online banking:
The Bulbank Mobile app has a rating of around 4.5/5 on the App Store and Google Play, with users praising its user-friendly interface and smooth operation.
Core functions: Support face/fingerprint login, real-time transfer (including cross-border SEPA transfer), bill payment, loan application tracking, portfolio management, etc.
Technological innovations:
introducing AI-powered virtual assistants that answer frequently asked questions and provide personalized financial advice.
Support for open banking APIs that allow third-party fintech applications to integrate account data (e.g., budget management tools).
Launched a "paperless" signing process, allowing customers to open accounts remotely through electronic signatures.
customer service quality
Complaint handling: Low complaint rate, average resolution time of about 3-5 business days, and user satisfaction score of about 85% (based on internal surveys).
Multi-language support: Support English, Russian and other non-Bulgarian language services, suitable for international customers and foreign residents.
Service channels: 24/7 phone support (+359 2 933 7212), live chat (response time approx. 2 minutes during business hours), quick replies on social media (e.g. Facebook) (within an average of 1 hour).
security measures
security of funds: deposits are protected by the Bulgarian Deposit Insurance Fund up to €100,000. Fraud prevention with real-time transaction monitoring and multi-factor authentication (MFA).
Data security: Protect customer data with end-to-end encryption with ISO 27001 information security certification. There have been no major data breaches in recent years, and the Group has continued to invest in cyber security (e.g. upgrading the firewall system in 2024).
Security measures act like an "impregnable digital fortress", allowing customers to trust their wealth with peace of mind.
featured services and differentiation
market segments:
student account: no account management fee, low-interest education loan, suitable for younger customers.
Exclusive wealth management for the elderly: Launched low-risk time deposits and high-liquidity savings products, with free health insurance consultation.
Green Finance: ESG investment funds and green mortgages (support energy-efficient homes with a preferential interest rate of 0.2%).
High-net-worth services: Private banking services with a threshold of around €100,000 and a dedicated financial advisor to provide customized investment portfolios, tax planning and cross-border wealth management.
market position and accolades
Awards:
"Best Bank in Bulgaria" by The Banker magazine in 2024.
In 2023, it won the "Best Digital Bank" award for Bulbank Mobile app innovation.
Industry ranking: In 2024, UniCredit Bulbank is the 3rd largest bank in Bulgaria with total assets of 34.897 billion leva, with a market share of about 18.21%. The parent company, UniCredit Group, ranks 34th among global banks by assets.
