UNITED BULGARIAN BANK API EULA

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’s statement on the results of the 2018 Comprehensive Assessment conducted by ECB

UBB acknowledges the results of the Comprehensive assessment based on the data as of 31.12.2018, conducted by ECB.

The results confirm the strong and solid capital position of UBB under the prudential ECB methodology and hypothetical stressed economic scenarios. They show that UBB is very well prepared and has robust capital buffers to meet extreme economic shocks. As can be seen from the AQR results in the table below, there is a negligible impact over the 2018 CET1 capital ratio, as well as stable performance from the conducted stress tests in the following years. UBB is not only meeting the minimum capital requirements in the different scenarios but largely exceeding them.

Base scenario CET1

 

2018

2019

2020

2021

Pre-adjustment (1)

21.51%

21.41%

22.16%

22.93%

Post-adjustment Fully Loaded (2)

21.08%

20.17%

20.81%

21.53%

Minimum threshold (3)

8.00%

8.00%

8.00%

8.00%

 

 Adverse scenario – CET1

  

2018

2019

2020

2021

Pre-adjustment (1)

21.51%

15.35%

14.06%

13.51%

Post-adjustment Fully Loaded (2)

21.08%

13.94%

12.44%

11.79%

Minimum threshold (3)

5.50%

5.50%

5.50%

5.50%


(1)   
CET1 capital ratio before impact of the AQR findings

(2)    CET1 capital ratio after impact of the AQR findings

(3)    Minimum level of CET1 capital ratio set by ECB

The Asset Quality Review did not reveal any accounting misalignments. The indicated adjustments are being tackled in the normal capital assessment process of UBB.

We are very proud with the results which confirm the prudent risk management policies and accounting principles applied by UBB in full compliance with Regulatory standards and IFRS. It is without doubt a result of the application of the Group policies and standards of our shareholder, the Belgian KBC Group.

The results provide us with confidence that UBB will continue to support the growth of the Bulgarian economy, as well as the success and prosperity of our clients.

In addition I would like to express my deep satisfaction with our fruitful partnership and excellent cooperation with ECB”, Peter Andronov, Country Manager of KBC Group for Bulgaria and CEO of UBB said commenting on the results.