FIRST IN DEPOSITS
Raiffeisenbank Bulgaria had the biggest share of household deposits in June, Bulgarian National Bank data showed. The bank’s portfolio was 376.6 million leva, a 30.4 per cent increase compared to the end of 2007. Second was DSK Bank with 298.7 million leva followed by Postbank with 259.3 million leva. Next were United Bulgarian Bank with 206.7 million leva and UniCredit Bulbank with 193.3 million leva. The top 10 also included Corporate Commercial Bank, Allianz Bank Bulgaria, Central Cooperative Bank, ProCredit Bank and Investbank.

PROFIT TRANSFER
On September 18, Corporate Bank’s shareholders will vote to transfer this year’s profit to reserve accounts, the Bulgarian Stock Exchange said. The move is supposed to support the bank’s expansion plans and increase its stability. Corporate Bank is currently the tenth largest bank on the market. Its credit portfolio by the end of June was 891.5 million leva. The bank’s profit in the period between January and June this year was 20.4 million leva.

SPECIAL OFFER
Raiffeisenbank Bulgaria has removed the ATM cash withdrawal fee for its VISA and MasterCard international smart cards. The offer is valid until September 15. Cardholders can use a 45-day grace period and one  percentage point off all purchases made in Bulgaria.

GREEN LIGHT 1
United Bulgarian Bank (UBB) received the approval from the Financial Supervision Commission (FSC) to launch a mutual fund that will invest mainly in real estate investment trusts. UBB’s Patrimonium Land is a moderate-risk fund, which will invest mainly in shares of local and foreign real estate investment trusts targeting agricultural land, offices and logistics areas, the FSC said. UBB, part of the National Bank of Greece, was ranked Bulgaria’s third largest bank in terms of assets at the end of June. UBB’s asset management arm manages three mutual funds – UBB Balanced Fund, UBB Premium Shares and UBB Platinum Bonds.

GREEN LIGHT 2
The Financial Supervision Commission (FSC) has licensed Balkanika Imoti as a real estate investment trust (REIT), the FSC said. Balkanika Imoti has plans to construct two holiday villages in Pirin mountain and on the Black Sea near the town of Tsarevo. Balkanika Holding Group holds 70 per cent in the REIT with mutual funds Invest Active and Invest Classic owning 20 per cent and 10 per cent, respectively.