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MKB Unionbank
From Wikipedia, the free encyclopedia
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Unionbank (Bulgarian: Юнионбанк, Yunionbank) was a major Bulgarian retail and commercial bank with headquarters in Sofia.
As of the end of 2010, its assets amounted to over €1.7 billion and growing, while the share capital of the bank exceeded €158 million.[1] Unionbank has 55 active branch locations around the country. As of January 2011, the bank has a long-term credit rating of BBB+ from the Fitch credit agency.[2]
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History
MKB Unionbank was founded in January 1991 as Boras OOD, a limited liability company, licensed by the Bulgarian National Bank (BNB) to trade in foreign currencies. Boras OOD founded, as a subsidiary company, a financial brokerage house Sofia AD, licensed by BNB as a non-banking financial institution. Sofia AD was renamed and licensed as a commercial bank as Unionbank AD and received a full banking license in 1996. [citation needed]
In September 2002, the European Bank for Reconstruction and Development (EBRD) acquired 15% of Unionbank's capital.[3]
In December 2005, MKB Bank acquired 60% of Unionbank's capital and renamed it to MKB Unionbank in May 2006.[4]
In September 2009, MKB Bank increased its percentage in the share capital of MKB Unionbank with 34% to 94% by buying all shares of Boras OOD.[1]
In July 2012 Fitch has confirmed MKB Unionbank's long-term credit rating at BBB+.[5]
In August 2013 First Investment Bank buys MKB Unionbank.[6]
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Key people
MKB Unionbank has a tiered board structure, which includes a Management Board and a Supervisory Board. [citation needed]
Management Board
- Maria Ilieva – CEO, Chairman of the Management Board
Supervisory Board
- Imre Balogh – Chairman of the Supervisory Board
Subsidiaries
According to the MKB Unionbank website, MKB Unionbank has one wholly owned subsidiary - AMC Imoti, a real estate operation, property valuation, and investment development, and property management company.[citation needed]
Key figures
References
External links
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