International rating agency Fitch has affirmed the long-term rating of UniCredit Bulbank at BBB with a stable outlook and the viability rating at bb+, whereby the long-term rating of the bank is aligned with that of UniCredit group.

Fitch reports that the country continues to approach the economic levels of Central and Eastern Europe, improving the possibilities for Bulgarian banks to conduct profitable business.

UniCredit Bulbank is a leading bank in the branch sector in the country. The bank's business profile is supported by high market shares (about 19% of the sector's assets at the end of 2022), especially among large companies. UniCredit Bulbank's business model "remains resilient to various shocks during the economic cycles," the international rating agency said in a statement.

The full information is available at Fitch Ratings press release.

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