Eight More EU Banks to Enter Bulgarian Market

A total of 37 EU-based banks notified the Bulgarian National Bank about their intention to enter the local market, the Central Bank said. The list of the central bank has, thus, added eight new entries.

Under the EU rules, EU-based banks do not have to obtain a licence, but only to inform the local authorities that they are launching business here.
 
The eight new entrants are DEPFA Deutsche Pfandbriefbank, MKB Bank Nyrt, Credit Suisse International UK, Euler Hermes SFAC Credit, Hypo Alpe-Adria Bank AG, Raiffeizen Zentralbank Oesterreich AG, Kommunalkredit International Bank Ltd. and Compagnie Generale D’Affacturage.

Among the most major players to enter the local market are ABN AMRO, Credit Suisse (Luxembourg) S.A., JP Morgan Europe, Merrill Lynch International Bank and Erste Bank AG.