On 09 October 2026, the Management Board of Bulgarian National Bank (BNB) took decision for approval and authorization of the transformation of Tokuda Bank EAD by a merger pursuant to Article 262 of the Commercial Act, into Bulgarian-American Credit Bank AD.

With the authorization granted, the final regulatory condition for completion of the merger of Tokuda Bank into BACB has been fulfilled. Approval by the Financial Supervision Commission (‘FSC’) pursuant to art. 124(1) of the Public Offering of Securities Act of the Transformation Agreement concluded between BACB and Tokuda Bank on 09 June 2026 was granted by FSC on 09 July 2026. The Transformation Agreement was published in the Commercial Register on 21 July 2026, whilst the General Meeting of Shareholders of BACB and the Sole Owner of the capital of Tokuda Bank adopted approval resolutions on 17 September 2026.

BACB will take the necessary steps to register the merger of Tokuda Bank EAD in the Commercial Register, with the transformation/merger taking effect from the moment of registration in the Commercial Register. Accordingly, information regarding the registration in the Commercial Register will be duly disclosed with a view to the legal consequences of the merger taking effect and the subsequent technical integration of the two banks.

A dedicated webpage has been set up for customers of both banks, accessible via the corporate websites of Tokuda Bank and BACB, containing key information, in the form of questions and answers, regarding the forthcoming merger and integration of Tokuda Bank into BACB.