The deadline for the offers for privatization of Bulbank JSC is April 19th, reported the Executive Director and a Chairman of the Board of Directors Mr. Chavdar Kunev. At the upcoming General Meeting on May 16th Bulbank JSC will offer the whole profit - BGN 101,5 million for 1999 to be paid as dividend. In the past year the credit portfolio of the bank was 11 per cent from the assets and compared to 1998 there is a rise of BGN 100 million - BGN 248,2 million. Till 2 - 3 weeks it will be known if Corporate Bank that is an ownership of Bulbank JSC will be sold. At the end of 1999 the current ZUNC bonds in the portfolio of the bank decreased to USD 75,5 million per face value compared to 1998. During last year Bulbank sold its stake in Eurofinance and Central Cooperative Bank. Its capital adequacy is 62,3 per cent by Bulgarian Accounting Standards and 43,6 per cent by the International Accounting Standards.The ratio between the own capital and the assets of the bank is 15.7 per cent.
Source: Pari (13.04.2000)

On July 13.2000 took place the 8th General Meeting of the Bulgarian Industrial Association (BIA). There was selected a Board of Management of 84 people in which are presented regional organizations, branch unions, small and medium companies. Some of the representatives of the bigger companies, selected in the Board of Management are:Solvay Sodi JSC, Assarel medet JSC, Union Miniere JSC, Resort Complex Albena, Airline Balkan, Industrial Holding Doverie, Hewlett Packard - Bulgaria, Kremilovtzi, Moststroy and others. For a President of the Board of Management was reselected Mr. Bojidar Danev. The Board of Management of BIA selected an Executive Board with the following members: Mr. Valentin Zahariev - an Executive Director of Kremikovtzi JSC Mr. Velichko Alexandrov - a President of ITA Efect Mr. Luchezar Tzotzorkov - an Executive Director of Assarel Medet Mr. Radosvet Radev - a President of Darik Radio Mr. Sasho Donchev - an Executive Director of Overgas JSC Mr. Philippe Rombaut - a Chief Executive Director of Union Miniere Mr. Bojidar Danev - a President of BIA Mr. George Shivarov - a Deputy President of BIA Mr. Dickrian Tebeian - a Deputy President of BIA Mr. Petar Denev - a Chief Secretary of BIA
Source: Company information (14.07.2000)

Four Pension Insurance Funds submitted documents for the license of the State Insurance Supervision Agency. These are the Pension Insurance Company Doverie, the Pension Insurance Company Saglasie, the Bulgarian Pension Insurance Company and the Saving Co-operative Company Rodina. According to prognosis 15 out of the 36 registered insurance companies will obtain permissions. Their names will be announced in the end of September or the beginning of October. The minimum executable capital of the pension funds, paid in in funds, should be BGN 3 million.
Source: Pari (18.07.2000)

Seven pension insurance companies have submitted their documents for license, was announced from the State Insurance Supervision Agency. They are PIC Solidarnost, PIC Saglasie, Bulgarian Pension Insurance Company, PIC Allianz Bulgaria, PIC Doverie, Saving-cooperative company Rodina and PIC Berlinische Leben. The State Insurance Supervision Agency started to accept documents for license on July 17 and the deadline for the submission of applications is September 17.
Source: Standart (28.08.2000)

The State Insurance Supervision Agency gave the first seven licenses to pension insurance companies. In this group are included PIC Saglasie. PIC Doverie, Bulgarian Pension Insurance Company, PIC Solidarnost, PIC Allianz Bulgaria and PIC Berlinische Leben. The rest of the candidates for permission are PIC LUKoil - Garant Bulgaria, PIF Nuton-Sila and PIF Garantsia. The three companies must wait until the agency executes inspection of their documentation. The legal term for this is 2 months. Two companies from the members of the Pension Insurance Funds Association were not able to submit documents. These are the voluntary pension funds Cooperator and Mel Invest.
Source: Pari (25.09.2000)

7 pension insurance companies received officially their licenses by the Minister of Social Maintenance Mr. Ivan neilov. Now 15 per cent from the active working population insure theirselves voluntarily. The first 7 licensed companies are Doverie JSC, Suglasie JSC, Bulgarian pension insurance company JSC, Saving cooperative pension insurance company Rodina JSC, Pension insurance company Allianz Bulgaria JSC, Solidarnost JSC and Berlinische Leben pension insurance company.
Source: Standart (04.10.2000)

The State Insurance Supervision Agency agreed to register in the Court 6 professional pension funds, established by licensed pension-insurance companies. The licenses were given to Allianz Bulgaria JSC, Professional pension fund Saglasie JSC, Doverie, Bulgarian professional pension fund JSC, Professional saving-cooperative pension insurance fund Rodina JSC and Professional pension fund Solidarnost JSC.
Source: BTA (24.11.2000)