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Deposit insurance Bulgaria
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During 1997
Bulgaria has experienced one of the most deep financial
crises in CEE countries. The combination with currency
crisis, widespread bank failures, hyperinflation and
government crisis has a very negative affect over the whole
Bulgarian economy. Parallel with the introduction of
currency board, as part of measures for improvement of bank
system soundness and public confidence has been enact a law
for deposit insurance. In this paper are discussed base
principles for deposit insurance system design and Bulgarian
deposit insurance system is assessed according it. |
Bulgarian Deposit Insurance Fund (BDIF)
is a legal entity, established under the adopted in 1998 Law on Bank
Deposit Guarantee
The Fund protects depositors' funds in banks up to BGN 196,000 (EUR
100,000), as well as creditors' interests in bank bankruptcy proceedings,
thus promoting stability of and confidence in the banking system.
Presently the Fund protects depositors' savings in 26 banks.
List of Banks Whose Deposits Are Insured by the BDIF
■Allianz Bank Bulgaria
■Bulgarian Development Bank
■Bulgarian-American Credit Bank
■CIBANK
■Central Cooperative Bank
■Citibank, N.A. - Sofia Branch
■Corporate Commercial Bank
■D Commerce Bank
■DSK Bank
■Emporiki Bank (Bulgaria)
■First Investment Bank
■International Asset Bank
■Investbank
■MKB Unionbank
■Municipal Bank
■NLB Banka Sofia
■Piraeus Bank Bulgaria
■Post Bank (Eurobank EFG Bulgaria)*
■ProCreditbank
■Raiffeisenbank (Bulgaria)
■Societe Generale Expressbank
■T. Ç. Ziraat Bankasi - Sofia Branch
■Teximbank
■Tokuda Bank
■UniCredit Bulbank**
■United Bulgarian Bank
* Eurobank EFG Bulgaria was created following the merger of Bulgarian
Post Bank and DZI Bank as of 1 November 2007.
** Bulbank, HVB Bank Biochim, Hebrosbank merged into UniCredit Bulbank
as of 27 April 2007.
The below listed banks are foreign banks' branches and are not members
of Bulgarian deposit guarantee system since they are covered by the
system in their home country:
■Alpha Bank - Bulgaria Branch
■BNP Paribas S.A. - Sofia Branch
■ING Bank N.V. - Sofia Branch
■Regional Investment Bank - Bulgaria Branch
source http://www.dif.bg/banks.php?lang=en
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