CIBANK
JSC is a leading commercial bank in Bulgaria with an extensive nation-wide
branch network, with a modern banking approach and a wide range of products and
services for individuals, corporate clients and SMEs.
CIBANK
has been part of the Belgian bancassurance group - KBC since the end of
2007. The integration of CIBANK JSC
within the structures of KBC Group together with DZI allows good partnership
between both companies and an innovative approach in offering bancassurance
products that are new for the Bulgarian market.
CIBANK
has been successfully operating on the Bulgarian market for 17 years. The Bank
was established in 1994 and registered in 1995 as BULGARIAN - RUSSIAN
INVESTMENT BANK AD and it was one of the first international financial and
investment institutions in Bulgaria. In 2000 BRIBANK AD signed a contract for
the purchase of the business enterprise of Economic Bank /Stopanska Banka/ (in
bankruptcy). As a result, the Bank
doubled its volume of assets and ranked among the 10 largest banks in Bulgaria
(in terms of assets). Later that year the Bank was renamed to Economic and
Investment Bank PLC with decision by the Sofia City Court.
In 2007,
the Belgian KBC Group acquired 80% stake in EIBANK PLC. Economic and Investment
Bank PLC was re-registered as CIBANK PLC in December 2008.
In
December 2010, KBC Group acquired the remaining shares of CIBANK PLC, thereby
becoming the sole shareholder in the Bank. In late December 2010 the Bulgarian
Financial Supervision Commission approved the deletion of the bank from the
Public Companies Register and from the Bulgarian Stock Exchange.
CIBANK
JSC holds a full banking license. It operates
as a licensed investment intermediary performing all kinds of activities
specified in the Credit Institutions Act, all kinds of banking transactions and
offers its clients a full range of modern banking and financial services and
products.
