Please read this License Agreement ("Agreement") carefully before clicking the "I Accept the Terms & Conditions" button.

By clicking the "I Accept the Terms & Conditions" button, you are agreeing to be bound by the terms and conditions of this Agreement to use the APIs in the Sandbox.

If you do not agree to the terms of this Agreement, do not click on the "I Accept the Terms & Conditions" button and do not add the API to the list of APIs your application will access.

1. Definitions

When used in this Agreement with the initial letters capitalized, in addition to the terms defined elsewhere in this Agreement, the following terms have the following meanings:

∙ API means the UNITED BULGARIAN BANK’S (UBB) application programming interface;

∙ Intellectual Property Rights means all patents, copyright and related rights, trademarks, logo, service marks, trade, design rights, business and domain names, rights in trade dress or get-up, rights in goodwill or to sue for passing off, rights in designs, database rights, rights in confidential information (including know-how and trade secrets) and any other intellectual property rights, in each case whether registered or unregistered and including all applications for, and renewals or extensions of, such rights, and all similar or equivalent rights or forms of protection in any part of the world.

∙ Sandbox is the software testing environment that enables the isolated execution of software or programs for independent evaluation, monitoring or testing. 

2. License

UBB grants you a limited,  non-transferable, non-exclusive, as-is, non sub licensable license

to use the API for the sole purpose of developing and testing your applications.

3. Restrictions

You shall not- 

∙ change or delete any copyright, trademark, tradename or other proprietary notices, legends, symbols, or labels appearing on or in the API;

∙ Disclose, share  or divulge any of the API specifications to any third party;

∙ Represent in any way that your application is approved, recommended or endorsed by us;

∙ Disable, or by pass any security protocols or measures or technical limitations of the APIs; 

∙ Modify, decompile, reverse engineer or otherwise alter the APIs;

∙ Participate or engage in any activity which restricts, hinders, impedes, interrupts or harms the API in any way or permits unauthorised access to the API;

∙ Use the API and the content thereon for any purpose other than those expressly permitted by these Terms of Use

UBB reserves the right to modify, suspend or discontinue, temporarily or permanently, the APIs, with or without notice and without liability to you.

4. Intellectual Property

Intellectual Property Rights 

4.1 We retain all Intellectual Property Rights with respect to UBB API’s,  including content and documentation and these may not be copied, transmitted or reproduced without our  prior consent. All Intellectual Property Rights and other rights in connection with the Portal  (including without limitation, information, graphics, software, text, sounds, images, trade marks, service marks, trade names and logos) are vested in us or our licensors.   You agree that you shall not obtain any Intellectual Property Rights, title or interest in the Portal other than in accordance with these Terms of Use.

4.2  You undertake not to do anything which would bring UBB or any of it trademarks, trade names, logos, or branding into disrepute or harm the reputation and goodwill of UBB.

4.3 You acknowledge and agree that we may independently develop or create applications, content or other services or products that may be similar to and/or compete with your applications and nothing in these Terms of Use shall prevent us from exploiting any such commercial opportunities.

5. Term and Termination

This Agreement shall remain in effect until terminated by you or UBB. 

UBB may, in its sole discretion, at any time and for any or no reason, suspend or terminate this Agreement with or without prior notice.

This Agreement will terminate immediately, without prior notice from UBB, in the event that you fail to comply with any provision of this Agreement. You may also terminate this Agreement by deleting the Application on our API.

Upon termination of this Agreement, you shall cease all use of the APIs on the Sandbox.

6. Severability

If any provision of this Agreement is held to be unenforceable or invalid, such provision will be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law and the remaining provisions will continue in full force and effect.

7. Amendments to this Agreement

UBB reserves the right, at its sole discretion, to modify or replace this Agreement at any time. What constitutes a material change will be determined at our sole discretion.

8. Applicable law and jurisdiction

The provisions of the Bulgarian law shall apply to this Agreement. Disputes betwen UBB and you related to, or arising from this Agreement shall, unless settled amicably between UBB and you, be brought for resolution before the competent Bulgarian court in Sofia, Bulgaria.

UBB AD reports the recent post-crisis year with a loss in the amount of BGN 40.6 million, after allocating provisions

  •  Despite the reported loss the Bank’s capital stability remains high 
The General Meeting of the Shareholders of UBB AD passed a resolution that the loss for Y2012 (after provisions and taxes) in the amount of BGN 40 694 182 should be covered by the Reserve Fund and the retained profit from previous years in the amount of BGN 900 667 should be allocated to the Reserve Fund.  

Despite the reported loss UBB AD’s equity as of the end of Y2012 amounted to BGN 1.070 billion and secured a level of capital adequacy of approximately 14 percent, or nearly 2 percent above the level, required as per BNB’s regulations.

Stilian Vatev – BoD Chairman and Chief Executive Officer- shared:

“The last Y2012 was the third consecutive year after the shock Y2009, during which the main challenges before the Bulgarian banking sector, including before the United Bulgarian Bank, continued to be the difficult economic environment, the growing burden of non-performing loans, the feeble economic activity, the lack of sufficient opportunities and prerequisites for growth in the banking sector.” He added that “despite these adverse conditions UBB AD has still been able to demonstrate its potential for adequately tackling the problems, brought about by the crisis, thus proving once again its capital stability and maintaining its traditionally strong and competitive position on the Bulgarian banking market. During the recent years our main focus has been the effective work, targeted at the problem loans, accompanied with a highly conservative provisioning policy and restoring the bank’s status of a self- financing institution through expansion of its deposit base. The successful implementation of these two goals had a significant price – a decrease in the loan portfolio, a certain loss of market positions and deterioration of the year-end financial performance. The reported loss for Y2012 is logical and is due mainly to the significant decrease in the loan portfolio and the interest income, as well as to the significant volume of the allocated provisions for problem loans’ impairment. However, this provides us with sufficiently good conditions to concentrate again on much more active lending activity in Y2013 and during the subsequent years to quickly regain our traditional leadership position on the Bulgarian banking market, as well as the high level of the year-end financial performance.”

The General Meeting released from responsibility all members of the Board of Directors with respect to their activities, related to managing the bank over the period from 01.01.2012 until 31.12.2012 and re-elected Mr. Teodor Valentinov Marinov member of the Board of Directors with a 3-year mandate.