About BACB

Values

What makes BACB different from all other banks?

We apply a strictly individual approach when we offer products and services

We rely on the professionalism of our highly qualified bankers

Services we offer are based on three principles: promptness, flexibility and innovativity

Our modern financial solutions have three interrelated priorities: green, social and sustainable banking

We always offer competitive conditions

History

1995 Year

Bulgarian-American Credit Bank (BACB) was founded pusuant to The foundation meeting of the shareholders. The founder of the Bank is the Bulgarian American Enterprise Fund(BAEF). BAEF was established and registered n the US in 1991 pursuant to the United States Support for East European Democracy Act to support the Eastern European democracies of 1989 through the United States Agency for International Development (USAID) for the purposes of promoting the development of the private sector in Bulgaria.

1996 Year

BACB was entered in the commercial register of commercial companies of the Sofia City Court. Initially, the Bank was granted a limited banking license by BNB, which permitted lending loans to the amount extended up to the amount of the debts and equity funds provided by its shareholder. The first two lending programs the bank put into effect were targeted at small- and medium-sized businesses and clients from the tourism sector.

View more

Management Board

Ilian Georgiev

Chief Executive Officer and Мember of the Management Board

Loreta Grigorova

Executive director and Мember of the Management Board

Alexander Dimitrov

Executive director and Мember of the Management Board

Silvia Kirilova

Member of the Management Board

View more

Supervisory Board

Tzvetelina Borislavova

Chairman of the Supervisory Board

Petаr Atanasov

Member of the Supervisory Board

Martin Ganev

Member of the Supervisory Board

View more

Green banking

In a changing world of urbanization, with progressive depletion of main finite energy sources, pollution and deterioration of environment it is absolutely necessary to change existing developmental policies and attitudes to environment.
In this situation, the Bulgarian-American Credit Bank assumes its role as one of the initiators of changing economic models and developmental policies and the integration of the green idea in them. The mission of BACB is to offer innovative financial solutions based on three integrated priorities: green banking, social banking and sustainable banking.

View more

Awards

  • „The Greenest bank of Bulgaria“ 2020 - “Bulgaria’s Greenest Companies” 2020, organized by b2b Media

  • „Тechnological innovation of the year“ - b2b Media Annual Awards 2019

  • „The Greenest bank of Bulgaria“ 2019 - “Bulgaria’s Greenest Companies” 2019, organized by b2b Media

  • „The Greenest bank of Bulgaria“ 2018 - “Bulgaria’s Greenest Companies” 2018, organized by b2b Media

  • "The most dynamically developing bank in 2015" at Bank of the Year Association’s Annual Bank Awards.

View more

Credit Rating

On 24 April 2023 BCRA - Credit Rating Agency AD published information about raising and confirming the ratings assigned to BACB, as follows:

  • Confirming the Long-term rating at BB, change of outlook from “Stable” to “Positive” and confirming the short-term rating at B
  • Raising of the national-scale long-term rating from BBB (BG) to BBB+ (BG), confirming of outlook at “Stable” and raising the national-scale short-term rating from A-3 (BG) to A-2 (BG);
View more

Sustainable Finance

At the core of the term "sustainable finance" stands the idea of long-term investing that is socially responsible and does not harm the environment. The aim is to combine good economic results(economic prosperity) with a positive impact by investing in projects and organizations that contribute to the sustainable development of a sector.

The context in which businesses operate has been transformed by a variety of environmental, social and governance (ESG) aspects such as climate change, human rights and business ethics as well as concurrently unfolding trends such as biodiversity loss, unsustainable use of natural resources, human demographic shifts, social and economic inequalities and a pandemic. For this reason it is of fundamental importance for BACB to integrate environmental, social and corporate governance (ESG) into the bank's business model...

View more

PSD2 Directive

In compliance with the extended European Union’s Payment Services Directive (EU) 2015/2366 (PSD 2) and the Payment Services and Payment Systems Act (PSPSA), BACB offers portals intended for payment service providers (TPPs).

The offered services are based on the National Technical Standard BISTRA (Banking Interfaces for Standardized Payments) and are compliant with the requirements of the PSPSA and Directive (EU) 2015/2366 (PSD2). The following publications are available for TPPs...

View more

Automatic exchange of information

In 2014 Bulgaria and the USA signed the Intergovernmental Agreement, effective as of 01.07.2014 for the implementation of the US tax act (FATCA - Foreign Account Tax Compliance Act). The objective of this Act is to enable the US tax authorities to fight trans-border abuse by American individuals, who have accounts and financial assets abroad.

According to the agreement the Bulgarian banks must strictly adhere to FATCA‘s provisions, as well as to register with the US Internal Revenue Service (IRS) as participating financial institutions and to acquire a GIIN - Global Intermediary Identification Number...

View more