United Bulgarian Bank

Alarming levels of air pollution are plaguing several key cities across Bulgaria, exceeding established safety thresholds by more than double, as revealed by both the official European air quality index and the Bulgarian civil platform, airbg.info. Responding to the precarious air quality in Sofia, the municipal authorities urgently advocate for increased reliance on public transportation.

The growth of coronavirus patients has imposed new restrictions on teachers and students in the country.

As of today, the attendance classes for all students from 1st to 12th grade in Plovdiv are suspended. Students in the municipalities of Sopot, Asenovgrad and Maritsa are also moving entirely to online education.

Six Bulgarian banks rank in the Top 100 of the largest financial institutions in Central and Eastern Europe. DSK, First Investment Bank and UBB are making significant progress in the ranking compared to last year. It is composed by RIA Rating Agency on the order of Russia's leading financial site Prime.

The loans of Bulgarian families are over 23 billion, writes NOVA TV. 

Households hold over BGN 53 billion in banks BNB data show.

According to the same statistics, as of the end of August, loans to Bulgarian families are over BGN 23 billion and BGN 212 million, which is an increase of 8.8 percent compared to a year ago.

The government has allocated more than BGN 12 million for the maintenance of the new state-owned Dams Management Company.

It is under the auspices of the Ministry of Economy and for this reason, the funds are being transferred to its budget, the government release said.

BGN 18.3 million in profit for the first six months of this year is reported by the Bulgarian Development Bank. The increase is 20% compared to the same period of the previous year and is a result of the activation of the credit activity, the institution announced.

The Bank's portfolio grew by 7% this semester.

The European Central Bank will undertake a comprehensive assessment of six Bulgarian banks by next July, it said on Monday, part of Sofia's effort to join the banking union before adapting the euro currency, reports Reuters. 

The owner of UBB, the Belgian bank-insurance group KBC, acquires the remaining 40% of the life insurance company UBB-Metlife, the bank said.

During the peak of the summer CEZ Distribution started 43 investment projects. There will be allocated BGN 1.5 million in the electricity distribution network of Western Bulgaria.

Reconstructions in Sofia will cost  BGN 500,000, and the rest of the funds will go to the municipalities of Troyan, Blagoevgrad, Vratsa, Pernik and Montana.

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.