International jury decided to award UniCredit Bulbank as Best Bank in Bulgaria for 2008

One of the most respected international magazines Euromoney announces in July its annual Euromoney Awards for Excellence in the banking area. The renowned Best Bank awards will be granted at official ceremonies in Vienna and London. International jury decided to award UniCredit Bulbank as Best Bank in Bulgaria for 2008.

The prize is given to UniCredit Bulbank for a second year in a row. The bank is the biggest Bulgarian financial institution with assets of about 9 billion BGN as of end 2007. UniCredit Bulbank is number one in assets, loans, attracted funds, shareholder’s equity and profit as of end 2007. Moreover, the bank is the leader in Corporate banking and Investment banking and holds top positions in Retail banking. UniCredit Bulbank has a banking network of about 260 branches, where about 4000 employees serve more than one million clients.

The annual Euromoney Awards for Excellence are considered one of the most respected international acknowledgements in the banking sector. The criteria for selection of Best Bank in the various countries include evaluation of quantitative and qualitative data, gathered by the jury from the Annual reports of the banks and other official sources. The award for Best Bank is given to the financial institution, which implemented during the year innovative product and structural initiatives, and shows strong growth. The assets and volume of business, as well as main efficiency and profitability indicators are part of the quantitative data.

The combined UniCredit Bulbank has the highest credit rating in Bulgaria BBB+ from the respective Standard and Poor’s. The rating of the bank is equal to the sovereign rating of Bulgaria.