UBB AD (Bulgaria)

United Bulgarian Bank (UBB) was set up in 1992 after the merger of 22 regional commercial banks. It was Bulgaria's first successful bank privatisation completed in mid-1997.
In July 2000, the National Bank of Greece paid USD 207 million to buy stakes in UBB held by Bulgaria's largest bank Bulbank, EBRD, CIBC Oppenheimer Corp and Jodrell Enterprises Ltd, which amounted to a total of 89.9%. The EBRD retained 10% in the Bulgarian bank but sold its stake to the Greek bank for USD 27 million under a call right option exercised in July 2004.
In mid-2009, UBB set up a factoring subsidiary, UBB Factoring.
The lender operates more than 200 branches and offices throughout the country. UBB offers a wide range of banking services, such as BGN and FX loans, BGN and FX deposits, FX transactions, express intra-bank transfers, electronic banking, cash management, BGN and FX accounts and traveller's cheques, debit and credit card payments, cash collection operations and depositories, bank guarantees and letters of credit, securities' trading, depository / fiduciary services, investment banking services, Western Union transfers.