Bulgaria Co-Op bank marks first year in Cyprus

The Central Cooperative bank of Bulgaria Plc held a reception at the premises of its first foreign branch at 69, Arch. Makarios III Avenue in Nicosia to celebrate its first year of operations on the Cyprus market.
The celebration began with the blessing of the branch, followed by a welcome speech by Milena Blagoeva, Director of the International Division of the bank’s headquarters. Antoaneta Panayotova, Director of the Cyprus Branch, spoke about the products and services on offer and the plans for future development in Cyprus.
The Central Cooperative Bank Plc – Bulgaria is a universal commercial bank with a focus on retail banking. It belongs to the financial structure of Chimimport Plc.
The financial companies within the group include CCB Group Assets Management, Armeec insurance company JSC, CCB Sila, Pension fund JSC and Suglasie pension fund, as well as CCB Real Estate Fund and Capital Management, CCB Health, CCB Life and CCB plc.
The bank’s assets are estimated at BGN 1,567 mln (EUR 801 mln), shareholders’ equity amounts to BGN 211 mln (EUR 108 mln) and net profit reached BGN 20,1 mln (EUR 10.3 mln).
The bank currently operates 51 branches and 200 representative offices in Bulgaria. Expansion plans include the recent purchase of a bank in Skopje.