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.

KBC completes acquisition of United Bulgarian Bank and Interlease


Yesterday, KBC completed the acquisition of United Bulgarian Bank and Interlease from the National Bank of Greece for a total consideration of 610 million euros, representing a 1.10x multiple of the 2016 Tangible Book Value of UBB and Interlease. The acquisition – which was announced on 30 December 2016 - was approved by the relevant regulatory authorities and received anti-trust approval.

KBC will use available funds to pay the acquisition price in cash.

The transaction will only have a limited impact of 0.54% on KBC’s solid capital position, keeping its CET1 ratio well above the regulatory minimum capital requirements. KBC’s CET1 stood at 15.7% (fully loaded, Danish compromise) at the end of 1Q17.

Together, UBB-CIBANK and DZI will become the reference in bank-insurance in Bulgaria, one of KBC’s core markets, boasting strong macroeconomic fundamentals while still offering potential for further penetration of financial services. Following this acquisition, KBC will also become active in leasing, asset management and factoring in Bulgaria, offering its customers now a full range of financial services. The operational integration of the business entities will be gradually introduced in the coming months.

During its first corporate governance meetings under KBC realm today, UBB will decide about the composition of its supervisory and management board, which will be led by Peter Andronov, current country manager Bulgaria and CEO of CIBank.

Thijs, CEO of KBC Group NV had this to say: ‘I am very pleased with our acquisition. Today, 10 years after our Group set its first steps in Bulgaria, we take a quantum leap in the country. In this core market we now also have become a strong market player, who will be able to put its mark on all the different businesses it is active in: banking, insurance, asset management, leasing et cetera. Our commitment to Bulgaria is a long-term proposition which is reflected in our strategy to be among the market leaders – like in all other core markets of KBC. Expanding our activities in the country, building on the competence and dynamism of UBB and CIBank, and leveraging our joint product and service offering will help us reaching this goal and ensure future success.”

Luc Popelier, CEO of KBC Group’s International Markets Business Unit added: “This transaction substantially strengthens KBC’s position in Bulgaria and is a fine example of KBC’s strategic approach on its core markets. We are convinced that both the customers of UBB and CIBANK and the Bulgarian economy as a whole will benefit from the joint forces of these two strong brands.”

Peter Andronov, CEO of CIBANK, and Country Manager Bulgaria welcomes yesterday’s transaction: ‘The joint forces of CIBank, UBB, DZI and the other Bulgarian entities  supported by KBC Group, ensure our Bulgarian customers of high quality banking,  insurance and other financial services up to the standards and level they deserve. This new combined financial group will substantially solidify and strengthen our current position on the Bulgarian market and play a major role in supporting our local economy. I look forward to collaborating with my new management and staff members and am convinced that, together, we will become the  reference for all our clients.


About KBC

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.cibank.bg, www.dzi.bg, www.kbc.com)

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.

CIBANK currently holds ninth position in terms of total assets. The bank serves its 240,000 retail and SME clients through a network of approximately 100 branches and through electronic channels. Insurance is distributed through various channels. CIBANK is a universal bank, focused on home finance and savings. The bank offers a comprehensive range of financial services on the market, using the successful KBC distribution model for bank-insurance. CIBANK has 1.6 billion euros worth of assets (3M2017), a loan portfolio of 0.9 billion euros and deposits of 0.9 billion euros.

DZI Insurance is active in both life and non-life insurance with market shares of 11,1% and 10,9%, respectively.

About UBB

UBB was established in 1992 through the merger of 22 Bulgarian regional commercial banks and has been part of the financial group of the National Bank of Greece (NBG) since 2000.

UBB caters for retail, SME and large corporate clients and offers the full range of financial and banking products, among which investment banking, insurance, mutual funds, brokerage services and leasing through its affiliates. UBB’s network comprises 190 branches and 691 ATMs in prime locations across the country.

UBB is Bulgaria’s fourth-largest banking group by total assets (3.5 billion euros) with market share of 7,4% as at the end of March 2017. UBB caters for approximately 875 000 retail customers with market share of 9,7% in retail loans. UBB also has a strong presence in the corporate banking market with a share of 7,6% in corporate loans.

UBB has a track record of strong pre-provision profitability. The bank has a robust capital position (CET1 ratio of 22.8% as at the end of March 2017) and reported the highest CET1 ratio among large banks in both the base and adverse stress test scenarios during the recent 2016 Asset Quality Review/Stress Tests. Its cost/income ratio amounted to 45% in the first quarter of 2017, putting it among the most cost efficient banks in the sector.