Deposit insurance Bulgaria






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
■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
■MKB Unionbank
■Municipal Bank
■NLB Banka Sofia
■Piraeus Bank Bulgaria
■Post Bank (Eurobank EFG Bulgaria)*
■Raiffeisenbank (Bulgaria)
■Societe Generale Expressbank
■T. . Ziraat Bankasi - Sofia Branch
■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






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