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ECB takes over supervision of 5 Bulgarian banks

Photo: EPA/BGNES

As of October 1, 2020, the Bulgarian National Bank (BNB) is cooperating with the European Central Bank. The accession of Bulgaria to the Banking Union has lead to the direct supervision by ECB of 5 commercial banks registered in Bulgaria- DSK, United Bulgarian Bank, Eurobank, Unicredit and Raiffeisen Bank. Although, they are subsidiaries of European banking families, they are monitored in Bulgaria as well. It is the responsibility of BNB to supervise the smaller banks in this country, although Frankfurt can take over their supervision as well.

First Investment Bank is not  being supervised by ECB. Before Bulgaria’s accession to ERM II, the bank raised its capital with the help of the Bulgarian Development Bank and a private investor.




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