• More and more customers prefer the fast and convenient process when concluding a consumer loan contract for up to BGN 5 000

The growing portfolio of digital products, robotization and automation of key processes encourage UniCredit's customers in Bulgaria to take advantage of the convenience of digital channels. One of the newest remote services is the Omnichannel platform, providing the opportunity to apply for and receive a consumer loan of up to BGN 75 000 completely remotely through the mobile banking application Bulbank Mobile, available completely free of charge through Google Play, iOS and AppGallery.

The consumer loan application process is fully digitized and does not require the payment of a fee. The approval of the individual offer in more than 50% of applications is finalized within three hours of submission. The digital application is extremely simplified and the personal data required from users is reduced by up to 90%.

"According to the data of the bank, at the beginning of 2023, every 10th consumer loan contract was concluded digitally. We are observing a change in the attitude of customers, who want a fast and convenient process. Thanks to the new and fully digital options for concluding a consumer loan, we expect a significant change in the percentage of digital transactions. We aim every 5th customer to use digital opportunities when they need loans", commented Borislav Genov, Director of Retail Banking and Member of the Management Board of UniCredit Bulbank.

"The opportunity to further expand our digital portfolio is extremely important to us. Not only because it offers affordable and efficient services, fully tailored to the time and commitment of our customers but also because it has a direct positive impact on the environment. On average, 10 sheets of paper or 130 liters of water are used for one consumer loan, which we actually save^[1]. For UniCredit Bulbank, it is of the utmost importance to realize our business in a sustainable way", commented Ivaylo Glavchovski, Executive Director of UniCredit Consumer Financing.

A distinctive difference in the preferences between traditional and remote conclusion of consumer loan contracts is the amount. For digitally concluded consumer loan contracts, a smaller average loan amount of about BGN 5,000 is reported, while for larger amounts of over BGN 18,000, the trend of physical consultation with an expert and a visit to a bank office when applying for a loan is maintained.

Regarding the customer profile, there are no significant differences when applying remotely for a consumer loan. The ratio between men and women is almost equal, with 58% preferring the digital process to 54% preferring the traditional one.

Among the ladies, there is also a similarity in preferences, with 42% applying remotely and 46% applying in a bank office. Regarding the trends in age distribution, 40% of the bank's customers up to 37 years of age prefer the traditional process when applying for consumer loans and 50% of customers in the same age group choose the digital one. The prospect for digital services is that this percentage will rise more and more.

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^[1] https://www.theworldcounts.com/challenges/consumption/other-products/environmental-impact-of-paper

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Additional media information:

Ekaterina Ancheva, tel +359 894 518 193 , flbufsjob/bodifwbAvojdsfejuhspvq/ch

Darina Radoslavova, tel +359 887 505273, Ebsjob/SbeptmbwpwbAVojDsfejuHspvq/CH