UBB is the safest bank in Bulgaria for 2020
20 October 2020
United Bulgarian Bank (UBB) is the safest bank in Bulgaria for 2020 according to the prestigious ranking of the Global Finance magazine. The international ranking is being presented for a 29-th consecutive year, involving banks from 112 countries.
The annual World’s Safest Banks ranking of Global Finance is one of the recognized and trusted standards for safety in the financial sector for more than quarter of a century now. The safest banks in the different countries have been selected through assessment of the long-term foreign currency ratings - from Moody’s, Standard & Poor’s and Fitch - and the total assets of the 1000 largest banks worldwide.
This is not the first distinction for UBB in a ranking of the said magazine. Over the last two years UBB won the prize for Best Trade Finance Bank in Bulgaria.
„The Safest Bank title is an attestation for UBB’s management. In just a few years after UBB’s acquisition by the Belgian financial group KBC we have become the reference on the market in terms of stability, safety, trust, treatment of clients, innovative development. I am convinced that this does not go unnoticed – neither by international organizations, which give us such high assessment, nor by clients themselves, whom we support with adequate financial solutions. Our clients, who continue choosing us as their servicing bank, are our biggest prize, day by day.“, shared Peter Andronov, Country Manager of KBC Group for Bulgaria and Chief Executive Officer of UBB.
„For most of 2020, the world has been lashed by the COVID-19 pandemic, a steep drop in economic activity and serious social unrest. Any of these developments could have significantly impacted banks’ creditworthiness. Surprisingly however, the relative position of the world’s largest banks on Global Finance’s World’s Safest Banks 2020 lists has been mostly stable. One can only speculate on when, or if, the changes will come.“, shared Joseph Giarraputo, publisher and editorial director of Global Finance.
The full list with the distinguished 112 banks will be published in the magazine’s November edition and online at GFMag.com.