In view of the continued spread of speculations concerning "secret arrangements" held in 2019 at one of the offices of the "Bulgarian-American Credit Bank" AD (BACB), involving the construction of the "Balkan Stream" gas transmission pipeline, we would like to publicly announce that the name of BACB is being used in the spread of fake news, tarnishing the institution’s reputation.

Since its establishment as a credit institution, BACB has always operated responsibly and in compliance with the applicable legislation, good banking practices in customer service and protecting public interests.

Since 2019, BACB has been one of the servicing banks of the Arkad Consortium, the leading partner of which is Arkad S.p.A. (Saudi Arabia), including for the purposes of the Consortium’s activities as a contractor engaged in the construction of the Balkan Stream gas transmission pipeline. The disclosure of any other information regarding the bank-client relationship is limited by the current regulations on the protection of bank and trade secrecy.

We are carefully monitoring any materials mentioning BACB’s name for any possible damage to the bank's reputation and trustworthiness, and we are prepared to take any measures provided for by law to protect the reputation of our credit institution, built up over the years.