27 March 2023
The Eurobank Group’s Board of Directors meets in a full quorum at Sofia from Monday, March 27, 2023, to Wednesday, March 29, 2023, holding its session outside Greece, where it is headquartered, for the first time since 2016, a decision indicative of the importance Eurobank attaches to its investment in Bulgaria.
On its first official visit in the country since announcing the agreement with BNP Paribas Personal Finance, that further strengthens Postbank by adding valuable assets with significant upside, Eurobank’s senior management will have a meeting with the President of the Republic of Bulgaria Mr. Rumen Radev and other leading statesmen, as well as with corporate clients and Postbank staff. The talks will include the team of Eurobank’s executives consisting of Chairman of the Board of Directors, Μr. George Zanias, Chief Executive Officer, Mr. Fokion Karavias, Deputy CEO, Mr. Stavros Ioannou, Head of International Activities & Group Private Banking General Division, Mr. Michalis Louis and the CEO and Chairperson of Postbank’s Management Board, Mrs. Petia Dimitrova.
Eurobank’s Chairman of the Board of Directors, Μr. George Zanias, underlined the high importance Eurobank places in the Bulgarian market, one of the three markets of systemic importance for the Group along with Greece and Cyprus. As he stated: “Eurobank is fully committed in its investment in Bulgaria and Postbank, that has established a leading role as one of Bulgaria’s systemic banks, enjoying a strong customer base as a reliable, trusted, and innovative partner. This is due to the commitment, hard work and creativity of the Postbank’s team that has increased the Bank’s market shares and prospects, on the back of significant growth achieved over the last 30 years. For that we are particularly proud. Eurobank, being the only Greek systemic Bank with strong presence in five markets, continues to strengthen its international activities which have achieved a strong increase in net adjusted profit by more than 50% in 2022 to €224 million with 43% of it coming from Bulgaria.”
Mrs. Petia Dimitrova, CEO and Chairperson of Postbank’s Management Board, said: “We sent a year that was very successful for Postbank. Our loan portfolio exceeded BGN 10 billion, which is a growth of 14.5% on an annual basis and a market share of 11.9%. The deal for the acquisition of the Bulgarian branch of BNP Paribas Personal Finance will allow us to take an even more stable position in the “big four” of the banking business. In recent years, we have had a series of successful mergers, with which we have proven that consolidation is a process that reflects entirely positively on the market and our customers, who receive even faster, profitable, convenient and innovative services from a larger institution, part of a strong international group”.
Postbank, a subsidiary of Eurobank Group, has completed 30 years of successful presence in the Bulgarian market, that was celebrated at a special event in October 2022. In the past year alone, the financial institution won 25 prestigious local and international awards. Postbank received the highest world recognition “Top Employer” for 2023 from the international independent Top Employers Institute. In recognition of the demonstrated exceptional results, Postbank has been awarded the “Bank of the Year” for the fourth time, also was named “Best Retail Bank” for the fifth time in a row by the international edition World Finance Magazine and won numerous awards for its innovative products, services and corporate social responsibility.
Postbank is the fourth biggest bank in Bulgaria in terms of assets, having a broad branch network across the country and a considerable client base of individuals, companies and institutions. In June 2022, Bulgarian Credit Rating Agency (BCRA) confirmed Postbank’s BBB long-term rating, with stable outlook. Postbank completed in a few years two successful deals, acquiring and integrating for a record time first Alpha Bank – a branch of Bulgaria, and then Piraeus Bank Bulgaria. They are another step to strengthen its position as a systemic bank on the market and to expand its customer base.