About UBB

Established in 1992 through the merger of 22 Bulgarian regional commercial banks, United Bulgarian Bank is the first and most comprehensive consolidation project in the Bulgarian banking sector.

Historical Background

Established in 1992 through the merger of 22 Bulgarian regional commercial banks, United Bulgarian Bank is the first and most comprehensive consolidation project in the Bulgarian banking sector.

United Bulgarian Bank is part of the financial group of the National Bank of Greece, which has been successfully operating for more than 160 years.

Historical Background of the National Bank of Greece

The National Bank of Greece is the oldest and largest Greek financial institution that runs the strongest financial group in the Republic of Greece. NBG develops dynamically by penetrating new international markets. Presently the Bank has focused its efforts on Southeast Europe and the Eastern Mediterranean.

Founded in 1841 as a commercial bank, NBG enjoyed the privilege of issuing the first banknotes of the young Greek state prior the establishment of the Bank of Greece in 1928. NBG has been listed on the Athens Stock Exchange since the latter’s launch in 1880. Since October 1999 NBG has been also listed on the New York Stock Exchange.

Presently the network of its banking group also encompasses over 290 offices on the Balkan Peninsula, as well as throughout the world.
The Group members offer the full range of financial and banking products, among which investment banking, insurance, mutual funds, brokerage services, lease activity.

Other members of NBG Group in Bulgaria are: Interlease – the largest lease company in Bulgaria – and UBB Asset Management - rendering investment portfolio management services.


Our mission is to maintain high standards of servicing and to continue the successful development of our activity. The satisfaction of all our clients and partners is our top priority. We treat them respectfully, while trying to be worthy of their confidence by meeting their needs and supporting the implementation of their projects.

We incessantly develop and improve our services. We always act professionally, while being meticulous about details.

Here at UBB we work in a well-organized and dynamic environment, which triggers outstanding atmosphere for effective teamwork.

Here at UBB the ideas and opinions of each and every employee matter. The personal initiative of everyone is being appreciated and encouraged. We are all supported in the constant learning and work enhancement process, as well as provided with transparent professional development opportunities.

Our never-ending advancement, motivation and utilization of our staff's professional knowledge and skills have cemented our leadership position in the banking sector.


UBB has established correspondent relations with 825 banks in 98 countries, as well as with 29 banks and foreign branches of financial institutions in Bulgaria. UBB maintains 18 correspondent accounts in 13 currencies.

Our branch network comprises over 210 structural units throughout the country.

Bank services, rendered by UBB: loans in Bulgarian leva and foreign currency, deposits in Bulgarian leva and foreign currency, FX operations, fast and express intrabank transfers, e-banking, cash management for corporate clients, operations with BGN and FX accounts and travellers’ cheques, payments with debit and credit bank cards, cash collection, bank guarantees and letters of credit, trade in securities, depository /custodian services, money transfers through Western Union

Retail Banking

It targets all natural persons and micro clients, for whom attractive product proposals are being prepared, in conformity with market competition requirements. The activity covers all stages from the launching of new products, advertising and marketing campaigns, direct marketing and work with various distribution channels.

Investment Banking

In its investment intermediary capacity the Bank services its clients and invests in shares and debt securities. Its area of responsibility covers: brokerage services; depositary services; custody of funds for additional pension insurance; effecting deals of intermediation, pertaining to the public offering and private placement of shares and debt securities.

Corporate Banking

UBB develops and applies a policy for servicing and rendering support to large domestic and multinational corporate clients, as well as clients from the SME segment. It implements lending programmes on its own, as well as jointly with other banks, and suggests special business lending initiatives. The Bank’s Corporate Banking function offers a wide range of credit products in the sphere of working capital and investment financing. The Bank is involved in the funding of EU Operational Programmes and management of projects, financed by the Bank. It provides bank guarantees, letters of credit, factoring and financial lease.


This area of UBB’s activity includes liquidity management and ensures the Bank’s ongoing capacity to meet its payables.

Effected operations are in foreign currency, money and debt instruments on the global markets. Idle cash funds are being effectively invested on provisional basis into assets, which are adequate in terms of maturity and liquidity. The bank’s cashflows, as well as its open FX and interest rate positions are being monitored and administered.

Risk Management

Assuming of risk is an essential part of banking activity, however, in order for it to be contained within acceptable limits from the point of view of profitability and asset quality, it needs to be systematically administered. This also renders risk management an important and dynamic process, encompassing: identification of the risks to which the bank has been exposed (credit, market, liquidity, operational one etc.) and the correlations between those; risk assessment – calculating the potential loss and the probability for it to happen through mathematical- statistical methods and scenario analyses, through the use of specialized software; risk containment – elaborating and applying a system of limits in accordance with the Bank’s risk appetite; assessment of the capital adequacy and planning the needed capital as per the development forecasts for the separate portfolios, as well as the overall economic situation; application of the Basel standards, as well as development of internal ratings-based models for risk assessment.

Membership and others:


UBB Board of Directors (effective from 31 May 2016):  

Marinis Stratopoulos
BoD Chairman 

Stilian Vatev

BoD Member, Chief Executive Officer

Radka Toncheva

BoD Member, Executive Director

Teodor Marinov
BoD Member

Anastasios Lizos
BoD Member

Кonstantinos Bratos
BoD Member

Alexandros Benos
BoD Member

Corporate Governance Code

Corporate governance is the system of rules, practices and processes by which a company is steered and controlled. Corporate governance essentially involves balancing the interests of a company’s stakeholders, management, customers, suppliers and the community as a whole. Since corporate governance also provides the framework for attaining a company’s objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure.

This system of rules and practices stands an anchor for financial stability and is one of the pillars of the modern market economy. The importance of incorporating sound corporate governance principles is evident from the growing number of national and international financial regulations, which contain ever more stringent requirements regarding corporate governance in banks. These requirements aim at providing transparency and accountability on decisions, made by the management, as well as at promoting balanced, continuous, consistent and effective functioning of the managerial bodies.

Considering its leading position and role in the Bulgarian financial system, United Bulgarian Bank constantly seeks alignment of its activity with the internationally recognized corporate governance principles and standards. For this reason, in response to the prevailing trends, in 2016 United Bulgarian Bank AD adopted its Corporate Governance Code.

Selected Highlights












Performance (BGN 000)





Operating Income

366 678

 404 483

369 237

 406 186

Net Interest Income

256 813

 254 952

257 464

 255 574

Net Profit

48 907

 111 261

51 154

 112 092






Balance Sheet (BGN 000)





Total Assets

6 544 227 

6 831 636 

6 549 277

6 837 140


1 221 544

1 082 343

1 229 841

1 091 237

Deposits from Companies and Individuals

5 089 353

5 570 592

5 085 765

5 566 288

Loans to Companies and Individuals, net

4 191 861

3 858 688

4 192 990

3 859 912






Capital Adequacy (%)





General Capital Adequacy (BIS Tier 1 + Tier 2)





Primary Capital Adequacy





Capital/Total Assets










Liquidity (%)





Total Liquidity





Total Loans / Total Deposits










Staff Number as of the end of the period

2 637

2 559

2 692

2 620

Average inflation (%)*





Exchange Rate USD/BGN (31 December)**





*Source: NSI

** Source: BNB



FITCH Ratings

  • B+ Long-term IDR
  • B Short-term IDR

Standard & Poor's

  • B Long Term
  • C Short Term

Deposit Insurance


Guaranteed Amount and Scope

1. Deposits, opened in the name of a client of the Bank, irrespective of their opening currency, are guaranteed in amount up to BGN 196 000 (one hundred ninety six thousand Bulgarian leva).

2. The following deposit types have been guaranteed in amount up to BGN 250 000 for a period of three months from the moment, since which the amount has been credited to the depositor’s account, or since the moment, in which the depositor has acquired the right to dispose of the deposited amount:

  • deposits of natural persons, having occurred as a result of real estate transactions for residential needs;
  • deposits of natural persons, originating as a result of paid amounts in line with either conclusion or dissolution of civil matrimony, termination of employment or official relations, disablement or death;
  • deposits, having originated as a result of insurance or social security payments or paid indemnities for damages due to indictable offenses or recalled judgement.

3.The deposits under Item.2. will not be included in the calculation of the total amount of the Bank’s payables to a single depositor as per Item 1 within the 3-month period, stated in Item 2.

4. The total amount of the Bank’s payables to one single depositor will be determined by summing up all deposits of the latter with the Bank. Deposits in foreign currency will be paid in their Bulgarian leva equivalence, calculated at the exchange rate of the Bulgarian National Bank as of the date of issuing a statement as per Art.20, Para.1 of Bank Deposits Guarantee Act. The interest due on deposits will also be calculated as of the said date.

5. Upon having a deposit in favour of a third party, entitlement to receive the guaranteed deposit amount will be of the person, in whose favour the deposit has been opened (the beneficiary), unless provided otherwise in the agreement.

Deposits, non-covered by the guarantee

6. Guaranteed amounts of deposits with banks shall not be paid to:

  • other banks, when these have been made on their behalf and at their expense;
  • financial institutions under Art. 3 of the Credit Institutions’ Act;
  • insurance and re-insurance companies under Art. 8 of the Insurance Code;
  • pension assurance companies and funds for mandatory and voluntary pension insurance;
  • investment intermediaries;
  • collective investment schemes, national investment funds, alternative investment funds and special purpose vehicles;
  • State Budget entities under § 1, Item 5 of the Additional Provisions of the Public Finance Act;
  • Investor Compensation Fund, Bank Deposits Guarantee Fund and the Guarantee Fund as per Art. 287 of the Insurance Code.

7. No guarantee shall be provided for deposits, having originated or pertaining to transactions or activities, constituting money laundering within the meaning of Art. 2 of the Measures Against Money Laundering Act or financing of terrorism within the meaning of the Measures Against Financing of Terrorism Act, established with an enforceable judgment.

8. No payment shall be made of deposits, which holder has not been identified as per Art. 3 of the Measures Against Money Laundering Act as of the date of issuing the statement under Art. 20, Para. 1 of the Bank Deposits Guarantee Act.

Mechanism for guaranteeing deposits and payment procedure

9. Upon revoking a license for performance of banking activities, the Fund shall pay the bank’s liabilities to its clients up to the guaranteed amounts. Payment shall be made via one or several banks, as determined by the Fund’s Management Board.

10. No later than 2 (two) business days prior to initiation of amounts’ payment by the Fund the latter’s Management Board shall be obliged to announce in at least two national daily newspapers and on its webpage the date since which the bank’s depositors will be able to receive payments from the Fund, as well as the bank/banks, through which these payments will be effected.

11. The Fund will ensure access for the bank’s depositors to the amounts, payable under the guaranteed deposits, no later than 7(seven) business days since the date of issuing the statement under Art.20, Para. 1 of the Bank Deposits Guarantee Act.