As a free sample for clients and potential
clients, below is offered summary information on a sample bank in Eastern
Europe or Central Asia selected casually from among those offering moderate
(not particularly high) interest rates for foreign-currency retail term
deposits.
Bank info:
Name: Bulgarian-American Credit Bank AD (“BACB”)
(Българо-американска кредитна банка АД – “БАКБ”)
Headquarters: Sofia, Bulgaria
Founded: 1995.
“The founder of the Bank is the Bulgarian American Enterprise Fund
(BAEF). BAEF is a private corporation established in the US pursuant to the
United States Support for East European Democracy Act 1989 (the SEED Act), the
primary aim of which is to encourage the entrepreneurship and to support the
development of the former communist countries from Central and Eastern Europe.
Under the SEED Act the BAEF was granted USD 57.8 million to invest in Bulgaria
for the purposes of promoting the development of the private sector by
supporting small- and medium-sized businesses in different sectors of the
economy.”
Total assets: BGN* 777,729,000
(USD 548 mln) as of 31 Dec. 2013, ranking in 20th
place out of 30 banks in Bulgaria.
Of the total assets, 56.2% were denominated in EUR, 34.2% were in BGN, and
9.6% were in other currencies.
*As of 31 Dec. 2013 the
official exchange rate for the Bulgarian lev (BGN) was USD
1 = BGN 1.41902
Total
loans: BGN 621,012,000
(USD 438 mln) as of 31 Dec. 2013, of which 74.2% were in EUR, 15.5% in BGN, and
10.3% were in other currencies. Of the
total, 82.5% of loans were to corporate clients, 11.0% to credit institutions
(banks), and 4.7% to retail clients.
Total
deposits: BGN 607,660,000
(USD 428 mln) as of 31 Dec. 2013, of which 44.6% were in EUR, 43.2% were in
BGN, and 12.3% were in other currencies.
Of the total, 66.5% were deposits from individuals and households, and
33.5% were deposits from institutions other than credit institutions.
Net profit
(loss) for 4Q 2013: BGN 551,000 (USD
388,300).
Number of branches: 12
Ownership structure: As of 30 Sept. 2013, the bank was owned
61.43% by the firm CSIF
AD (Сиесайеф АД) of Sofia, Bulgaria, 35.12% by Gramercy Select Master Fund of George Town, Cayman Islands, and 3.45% by other shareholders. CSIF AD is owned 99.99% by Bulgarian
businesswoman Tzvetelina Borislavova Karagyozova (Цветелина Бориславова
Карагьозова), who since 2011 serves as chairman of the board at the bank (Source: BACB
Consolidated Financial Statements for 2012, p. 35).
Quarterly and
annual financial statements, 2006-2013:
In
Bulgarian: Начало
> За БАКБ > За инвеститори > Отчети и финансова информация >
Междинни индивидуални финансови отчети (no direct link possible due to
Flash format)
In English:
Home
> About BACB > For Investors > Reports and financial information >
Interim Reports (no direct link possible due to Flash format)
Quarterly
financial statements, 2008-2013:
Quarterly
balance sheets and income statements, 2004-2013:
In
Bulgarian: Баланс
и отчет за доходите, tab “160”
In English:
Balance
Sheets and Income Statements, tab “160”
Disclosure
portal: X3:
ТБ Българо-Американска Кредитна Банка АД-София
Auditor: Deloitte Audit OOD
(Делойт Одит ООД)
SWIFT Code: BGUSBGSF
YouTube channel: bacbankbg
Contact info:
Phone: (+359) 2-965-8370
Fax: (+359) 2-944-5010
E-mail: bacb@bacb.bg
Web: www.bacb.bg (all information on the website
is in Flash format, so direct linking to most individual pages is not possible)
Terms of retail term deposit “Promotional
Deposit” (Промоционален
депозит) in effect from 24 January 2014:
USD: 2.80% a.p.r. for 3 months, 3.20% for 6 mos., 3.60%
for 12 mos.
EUR: 3.55% a.p.r. for 3 months, 4.25% for 6 mos., 4.90%
for 12 mos.
BGN: 4.10% a.p.r. for 3 months, 4.30% for 6 mos., 5.20%
for 12 mos.
Terms of corporate term deposit
“Standard
Deposit” (Стандартен
депозит) in effect from 24 January 2014:
USD: 1.30% a.p.r. for 1 month, 1.80% for 3 mos., 2.30%
for 6 mos., 2.80% for 12 mos.
EUR: 2.40% a.p.r. for 1 month, 3.00% for 3 mos., 3.65%
for 6 mos., 4.15% for 12 mos.
BGN: 2.40% a.p.r. for 1 month, 3.50% for 3 mos., 4.00%
for 6 mos., 4.50% for 12 mos.
The above rates are
valid for deposits of more than 500 (minimum) and less than 500,000
USD/EUR/BGN.
