Bulgarian-American Credit Bank offers two new loans - mortgage loan for circulating funds and mortgage loan for purchase of property. The minimum amount is USD 10.000, term for payment is 10 years, annual monthly payments, including 20 per cent interest and principal on the loan. BACB was established in 1996 and has a full banking license.
Source: Pari (17.03.2000)

The General Meeting of Bulgarian-American Credit Bank JSC adopted the report of the Directors for 1999. According to the report the net profit of the bank is BGN 2.112 million. The shareholders decided to cover losses from last years with BGN 66 000 from them and the rest BGN 2.046 million are for the Reserve fund. The members of the Board of Directors were dismissed in 1999. The shareholders of the bank - Bulgarian - American investment fund, represented by Mr. Dimitar Vuchev and Bulgarian-American Property Management SP Ltd, represented by Thomas Higgins - approved the business plan for the year 2000, offered by the Executive Directors.
Source: Pari (10.05.2000)

On July 25 a contract for EUR 5.1 million was signed between the Bulgarian-American Credit Bank (BACB) and The European Bank for Reconstruction and Development (EBRD). BACB will invest the money in tourism and the small and medium companies amounting to EUR 1 million each. The moment is extremely suitable - the Bulgarian hotel industry is almost completely in the hands of private companies, claimed Mr. Frank Bauer, a President a Chief Executive Director of BACB. BACB has invested over USD 50 million in hotels and small and medium companies through more than 320 loans. The profit of BACB for first 6 months is BGN 2 million.
Source: Pari (26.07.2000)

Samokov Borovetz 21 will pay for 60 per cent from the capital of Borosport with a credit from DSK and Bulgarian-American credit bank (BACB). The former MEBO that is an owner of Samokov hotel has offered the highest so far price of USD 3.7 million . Samokov hotel and Continental hotel are mortgaged for about DEM 5 million. The hotel in Sunny beach is pledged in DSK for BGN 1.5 million and the rest of the funds are taken by BACB against an annual interest of 18 per cent.
Source: Standart (18.09.2000)

The Bulgarian-American credit bank opened its first office in Varna - its sole representation outside Sofia. The bank is financed by the Bulgarian-American Enterprise Fund and is specialized in the credit services. The Development Manager of the bank Mr. Ivailo Botev stated at a press conference that the company invests only in the private sector and he also added that the credit institution works on 3 programmes. The first one is connected with direct investments, shares or crediting of small and medium companies. The second one is a hotel programme and the third one is for the mortgage crediting. The office in Varna is opened to grant credits that are included in the third programme.
Source: Black sea (04.10.2000)

The total sum of the granted credits from the bank system by the end of October amounts to BGN 3.042 billion, was reported from BNB. BGN 2.303 went in the private companies. At the second place with BGN 564.962 million are the received loans by the population. The credits in foreign currency are for BGN 16.410. The total amount of the assets of the bank system as of October 31 is BGN 10.007 billion. The gathered funds in deposits and accounts of citizens, companies and financial institutions are BGN 7.468. For the same period the profit of the banks amounts to BGN 264.613. The biggest share in the profit have the banks from the so called first group - Bulbank, Bank DSK and United Bulgarian Bank.
Source: Standart (29.11.2000)