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.

United Bulgarian Bank Long-Term Rating Raised Considerably by two of the Credit Rating Agencies after UBB Was Acquired by KBC Group


Fitch Ratings Upgrade the UBB Long-Term Rating by 6 rates to ‘BBB+’ from ‘B+’; Outlook Positive.

S&P Global Raises the UBB Long-Term Rating by 4 rates to 'BB+' from ‘B’, Off Watch; Outlook. Positive

Two of the “Big Three” Credit Rating Agencies – Fitch Ratings and S&P Global – upgraded the ratings of United Bulgarian Bank (UBB) shorty after KBC Group acquired 99.9% of it on 13 June 2017.

Fitch Ratings has resolved the Rating Watch Positive (RWP) on UBB's Long- and Short-Term Issuer Default Ratings (IDRs) and Support Rating (SR). At the same time, Fitch has upgraded UBB’s Long-Term IDR to 'BBB+', which is 6 rates higher than its previous rating 'B+'. This is the highest possible rating for a Bulgarian financial institution. The Positive Outlook on UBB reflects the Bulgarian sovereign rating (BBB-/Positive). UBB’s Long-Term IDR would be even upgraded if Bulgaria's Country Ceiling is revised upwards.

UBB’s higher Rating reflects Fitch’s view of a high propensity of KBC to support its Bulgarian subsidiary, if required. Earlier today they have officially announced: “We believe that UBB’s synergies with the new parent will be strong because the bank provides banking services in one of KBC’s four strategically important markets in central and eastern Europe (together with the Czech Republic, Hungary and Slovakia).” In their official release Fitch mention that KBC has been present in Bulgaria since 2007 through its smaller bank subsidiary CIBANK (about 3.4% market share) and an insurance company DZI Insurance. After the acquisition of UBB (ranked fourth by total assets with about 7.4% market share) KBC achieved its strategic target of a significant market share (about 11%, third place) in Bulgaria.

Standard and Poor’s (S&P Global) have also raised significantly their long-term rating on UBB to 'BB+' from 'B', which is 4 rates higher and is equal to the rating of Bulgaria. The positive outlook reflects that S&P Global could raise the ratings over the next 12 months if they anticipate an improvement in the bank's business profile, in particular, a more focused growth strategy and the successful integration of UBB with KBC's banking operations in Bulgaria. S&P Global have also mentioned that as UBB is a domestic bank operating in Bulgaria only, they would not rate the bank higher than the sovereign. An upgrade of UBB is contingent on an upgrade of Bulgaria. This means that UBB is now rated as a top financial institution in Bulgaria.

S&P Global no longer views UBB as being exposed to contagion risk from its former shareholder National Bank of Greece. They also consider that UBB is now a strategically important subsidiary of the KBC group: Bulgaria is a very important market for KBC and we expect the group to bestrongly committed to UBB given its intention to grow significantly in theBulgarian banking sector.” S&P Global have also added: “Importantly, we believe the ambitions of the KBC group in Bulgaria should gradually strengthen the competitive position of its local operations, with higher growth and higher profitability over time.”

The new CEO of UBB and Country Manager of KBC Group for Bulgaria, Peter Andronov, commented on the significantly increased ratings of the bank: In line with KBC Group’s long-term strategy, UBB, together with CIBANK, will become a top three bank in the Bulgarian market. The ratings upgrade is yet another proof that the acquisition of UBB and the uniting of UBB and CIBANK will be beneficial for both – for the local economy and for the clients. Having in the Group also DZI, one of the major insurance companies in the market, we will expand our bancassurance activities, becoming the largest financial group in Bulgaria.”


About KBC (www.kbc.com)

KBC is an integrated multi-channel bank-insurance group, catering mainly for retail, SME and local midcap clients. It concentrates on its core markets of Belgium, Bulgaria, Czech Republic, Hungary, Ireland and Slovakia. Elsewhere around the globe, the group has established a presence in selected countries and regions. KBC’s headquarters are located in Brussels (Belgium). The group employs more than 38 000 people and is listed on Euronext Brussels (ticker symbol 'KBC').

About KBC’s presence in Bulgaria(www.ubb.bg, www.cibank.bg, www.dzi.bg)

In 2007, KBC acquired both CIBANK and DZI Insurance. Collaboration in the field of bank-insurance between DZI and CIBANK has grown significantly in recent years.

On June 13th, 2017 KBC acquired UBB from the National Bank of Greece. After the forthcoming CIBANK-UBB consolidation the new united UBB bank will rank as the third largest bank in Bulgaria in terms of assets, equaling approximately BGN 5.1 billion euro, with a market share of nearly 11%.

CIBANK, UBB and its subsidiary companies, as well as DZI will together grow into the largest banking and insurance group in Bulgaria, one of the main markets for КВС Group. As a result of that КВС Group will also actively penetrate the lease market, as well as the asset management and factoring markets in Bulgaria, by offering its clients the full range of banking services.