The financial assets of private customers in UniCredit Bulbank have risen by 40% within two years

UniCredit Board of Directors has today appointed Helmut Bernkopf as Head of Private Banking Division.

Helmut Bernkopf will report to the General Manager of UniCredit, Mr Roberto Nicastro, and will be a member of the Business Executive Management Committee.

Roberto Nicastro said "Today UniCredit Private Banking is among the first Players in Europe and the first in core Countries like Italy, Austria and Poland. Providing service and advisory to our primary customers, especially in this tough and interconnected Markets scenario, is a challenge that requires strong leadership and an international approach. That is why I’m particularly pleased for the nomination of Helmut Bernkopf. I wish him all the best for his new role.”

Helmut Bernkopf declared “I’m proud of this opportunity. I strongly believe in service quality as a key for growth and I know that Private Banking reached this positioning thanks to the excellent work of our colleagues. I also believe in synergies with Corporate banking and I hope that my previous experience may be the key to leverage even more on this”.

Helmut Bernkopf was Manager of the Corporate Finance in Bank Austria AG from 1994 and Head of Loan in the London branch. In 2000 he became Head of Corporate Banking in Bank Austria Creditanstalt Romania and from 2001 to 2004 he was Deputy Chairman of HVB Bank Romania S.A.

From 2005 to 2006 he took up the responsibility of Head of CEE Division and from 2007 to 2008 of Deputy Chairman UniCredit Bank Russia. From September 2008 to this day he has been a Member of the Management Board of Bank Austria AG as Head of Corporate and Investment Banking Austria.

Private Banking at UniCredit Bulbank

In the period from 2009 until the beginning of 2011, the total volume of financial assets of private customers has grown from BGN 398 mn up to BGN 521 mn. This represents a growth of almost 40% within a period of two years.

As of July this year, nearly 1, 100 households have trusted their consultants from the Private Banking Department at UniCredit Bulbank with their financial assets totaling BGN 552 mn.

„The trend in the past three years is linked not so much to an increase in the number of private customers, but rather to the average amount of the deposited funds reaching TBGN 500 per household“, commented Ivan Dzhonov, Head of Private Banking Department at UniCredit Bulbank. According to him, the lack of investment prospects has made quite a few entrepreneurs to focus on the term deposits offered by the commercial banks in Bulgaria.

„The company owners opted for availing themselves of the attractive interest rates on deposits instead of pursuing risky undertakings related to their business“, said also Mr. Dzhonov. One of the explanations for this lies in the fact that the real estate properties dropped in value and respectively the interest of the investors faded away. In this way, part of the free cash flows, which in the pre-crisis period were channeled towards purchases of real estate properties with investment purpose, now flow into the banking system in the form of deposits. Ivan Dzhonov shared, as well, that at the moment it is already reasonable the financial means of private customers to be allocated also in other asset categories such as shares and bonds due to the anticipated recovery of the world’s economy and respective growth of stock markets.

More information for media:

UniCredit Bulbank, Identity & Communications Department

Viktoria Blajeva, Phone: + 359 2 9264 993, wjlj/ebwjepwbAvojdsfejuhspvq/ch

Ekaterina Ancheva, Phone: + 359 2 9264 963, еlbufsjob/bodifwbAvojdsfejuhspvq/ch

More information for clients: UniCredit Bulbank, Call Centre Phone: 0700 1 84 84