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Banking System and Banks in Bulgaria

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The banking system in Bulgaria consists of both Bulgarian and foreign-owned banks. The Bulgarian National Bank (BNB) is the country’s central bank and is responsible for setting monetary policy, issuing and regulating the country’s currency, and supervising the banking sector. The BNB is also the depositary for government funds and the banker for the government, commercial banks, and other credit institutions.

Several types of banks operating in Bulgaria, including universal, investment, and specialized banks. Universal banks offer various banking services, including retail, corporate, and investment banking. Investment banks focus on providing financial services to companies and governments, such as underwriting and issuing securities, trading in financial instruments, and providing financial advice. Specialized banks, such as mortgage and development banks, focus on specific areas of banking.

The banking sector in Bulgaria is regulated by the BNB and the Financial Supervision Commission (FSC), which is responsible for ensuring the stability and integrity of the financial system. The FSC also oversees the insurance sector and capital markets in Bulgaria. Most banks in Bulgaria offer various services, including checking and savings accounts, loans, credit cards, and online banking. There are also some foreign banks with branches or subsidiaries in Bulgaria.

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