DSK Bank ( bg, Банка ДСК, ''Banka DSK''; formerly Държавна спестовна каса, ''Darzhavna spestovna kasa'' — State Savings Bank) is a major

Bulgaria Bulgaria (; bg, България, Bǎlgariya), officially the Republic of Bulgaria,, ) is a country in Southeast Europe. It is situated on the eastern flank of the Balkans, and is bordered by Romania to the north, Serbia and North Macedon ...

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

. It has been owned by the Hungarian

OTP Bank OTP Bank Group is the largest commercial bank of Hungary and one of the largest independent financial service providers in Central and Eastern Europe and with banking services for private individuals and corporate clients. The OTP Group comprise ...

since 2003, being transformed into a

joint-stock company A joint-stock company is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certificates ...

in 1999, and was founded in 1951 as the country's

savings bank A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providi ...

History

The Bank was established under the name of the State Savings Bank (DSK) in 1951 by a decision of the

Council of Ministers A council is a group of people who come together to consult, deliberate, or make decisions. A council may function as a legislature, especially at a town, city or county/ shire level, but most legislative bodies at the state/provincial or nati ...

of the then

People's Republic of Bulgaria The People's Republic of Bulgaria (PRB; bg, Народна Република България (НРБ), ''Narodna Republika Balgariya, NRB'') was the official name of Bulgaria, when it was a socialist republic from 1946 to 1990, ruled by the ...

. It included the State Savings Bank and the

nationalised Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to pri ...

cooperative popular banks and agricultural credit cooperatives. It received exclusive rights to receive deposits from private individuals in the country. Initially, they were used exclusively for lending to the state, and from the mid-1960s the bank was given the opportunity to provide consumer loans and housing loans to private individuals. Until 1971, it was headed by the Ministry of Finance, and then by the

Bulgarian National Bank The Bulgarian National Bank ( bg, Българска народна банка, Bohlgarska narodna banka, ), or BNB, is the central bank of the Republic of Bulgaria. Headquartered in Sofia, the bank was established in 1879. It is the 13th oldest ...

2011

According to the Individual - Non-Audited financial statement for the first three cumulated quarters of 2011, total net operating revenues of DSK Bank increased by 6.73%, from BGN 443,030 thousands to BGN 472,855 thousands. Operating result decreased from BGN 106,152 thousands to BGN 57,477 thousands, which means -45.85% change. The results of the period decreased 39.24%, reaching BGN 61,618 thousands at the end of the period against BGN 101,414 thousands previous year.

Operations

In April 2022, DSK Bank announced its partnership agreement with Amsterdam based fintech software provider

Backbase Backbase is a Dutch banking technology financial technology company that provides engagement banking for financial institutions globally from large banks to credit unions and community banks. Backbase provides solutions for retail banking, busi ...

. The partnership agreement entails the organisations working closely together to aid in the accelerating the digital transformation of the bank in addition to aid in future-proofing its operating model via re-architecting digital solutions based around its customer base.

References

External links

* * Banks of Bulgaria Banks established in 1951 1951 establishments in Bulgaria People's Republic of Bulgaria {{Europe-company-stub

History

2011

Operations

See also

References

External links