Summary / About Us / BBR

Bulgarian Development Bank (BDB) is a financial institution 99.9%-owned by the Bulgarian state. It is the successor of Encouragement Bank established in 1999. Its focus is to support small and medium-sized enterprises. BDB is among the top four Bulgarian banks in terms of credit rating, rated BBB- by Fitch Ratings, the global credit rating agency. It is the only Bulgarian bank to provide financing via other credit institutions as well as direct financing. BDB is the best-positioned local bank to raise funds from international partners. Its subsidiary, the National Guarantee Fund, issues guarantees for bank loans to the non-financial sector.

Focus of Our Efforts

Start-ups and innovations
Exporters of finished goods
Manufacturing industry
Extractive industries
Agriculture and Tourism

Our Resources

Balance-sheet indicators	July 2015
Assets	BGN 1848 million
Corporate lending	BGN 735 million
On-lending financing	BGN 159 million
Equity	BGN 690 million
Profit	BGN 21.1 million

SUPERVISORY BOARD
Atanas Katzarchev Chairman of the Supervisory Board CloseAtanas Katsarchev is tax and financial consultant, with extensive management experience. He was Deputy Minister of Finance, chairman and member of the Management Boards of commercial companies; his current position is Advisor to the Minister of Finance. Between 2001 and 2006 he sat on and between 2006 and 2009 chaired the Supervisory Board of Encouragement Bank AD (now Bulgarian Development Bank AD).
Kiril Ananiev Deputy Chairman of the Supervisory Board CloseKiril Ananiev is Deputy Minister of Finance in the caretaker government. In the period 1998 - 2009 he was Deputy Minister of Finance in three consecutive governments. He was also Financial Policy Secretary for the administration of the President of the Republic of Bulgaria and Advisor to the political cabinet of the Prime Minister. In the period 2006 - 2009 he was member of the Supervisory Board of Encouragement Bank AD (now Bulgarian Development Bank AD).
Dimitar Dimitrov Member of the Supervisory Board CloseDimitar Dimitrov has proven professional and managerial experience in the banking sector. He was Executive Director of UBB, Deputy Minister of Economic Development, Deputy Governor of BNB, Executive Director of BCC, among others. In the period 2001 - 2011 he was on the Management Board of Encouragement Bank AD (now Bulgarian Development Bank AD).

SUPERVISORY BOARD

Atanas Katzarchev

Chairman of the Supervisory Board

CloseAtanas Katsarchev is tax and financial consultant, with extensive management experience. He was Deputy Minister of Finance, chairman and member of the Management Boards of commercial companies; his current position is Advisor to the Minister of Finance. Between 2001 and 2006 he sat on and between 2006 and 2009 chaired the Supervisory Board of Encouragement Bank AD (now Bulgarian Development Bank AD).

Kiril Ananiev

Deputy Chairman of the Supervisory Board

CloseKiril Ananiev is Deputy Minister of Finance in the caretaker government. In the period 1998 - 2009 he was Deputy Minister of Finance in three consecutive governments. He was also Financial Policy Secretary for the administration of the President of the Republic of Bulgaria and Advisor to the political cabinet of the Prime Minister. In the period 2006 - 2009 he was member of the Supervisory Board of Encouragement Bank AD (now Bulgarian Development Bank AD).

Dimitar Dimitrov

Member of the Supervisory Board

CloseDimitar Dimitrov has proven professional and managerial experience in the banking sector. He was Executive Director of UBB, Deputy Minister of Economic Development, Deputy Governor of BNB, Executive Director of BCC, among others. In the period 2001 - 2011 he was on the Management Board of Encouragement Bank AD (now Bulgarian Development Bank AD).

MANAGEMENT BOARD
Angel Gekov Chairman of the Management Board and Executive Director CloseAngel Gekov has over 20 years of experience in the management of financial institutions. He graduated from the Faculty of Law of the St. Kliment Ohridski University of Sofia. He has specialized in CEE Finance and Banking in Tokyo, Japan, and Credit Analysis in Vienna, Austria. He started his professional development in Economic Bank in 1991. In 1997 he headed the Lending Division of Bulbank. From 2001 to 2005 he was consecutively Executive Director in Rosseximbank, Municipal Bank and Encouragement Bank (the current Bulgarian Development Bank). In the last three years he was member of the Management Board and Executive Director of D Commerce Bank.
Bilian Balev Deputy Chairman of the Management Board and Executive Director CloseBilian Balev has graduated the University of National and World Economy, Sofia, majoring in Finances and Banking. In the period 1992-1995 he attended training courses and internships on banking and financial markets in the USA, UK and the Czech Republic. He specialized in American Express Bank in New York City and in 1995 he became qualified in Portfolio Management in Central European University, Prague. His career in the banking sector started in 1991 in Bulgarian Post Bank. In the period 1992-1995 he took positions at Private Agricultural and Investment Bank, Sofia, Finance and Brokerage House and Unionbank CB. From 1996 to 2001 he was the Executive Director of “Capman Inc.”. In 2001 he became the manager of Nobel Advisors and in 2004 – of Forem Consulting Bulgaria. He is Executive Director of BDB since September 2013.
Iliya Kirchev Member of the Management Board and Executive Director CloseIliya Kirchev has a Master`s degree in Finance from the University of National and World Economy, Sofia. His career started in 1995 in Agrobusinessbank in Plovdiv. From 1999 to 2003 he was the manager of the Plovdiv Branch of Allianz Bank Bulgaria. From 2003 to 2005 he took top management positions at HVB Bank Biohim. From 2005 to 2010 he was the head of the Plovdiv branches of Eurobank Bulgaria, and in 2011 he become Regional Corporate Clients Manager in Eurobank, Bulgaria. From 2012 he headed the Regional Plovdiv Branch of First Investment Bank AD. He is currently an assistant professor at the University of Agrobusiness and Regional Development in Plovdiv.

MANAGEMENT BOARD

Angel Gekov

Chairman of the Management Board and Executive Director

CloseAngel Gekov has over 20 years of experience in the management of financial institutions. He graduated from the Faculty of Law of the St. Kliment Ohridski University of Sofia. He has specialized in CEE Finance and Banking in Tokyo, Japan, and Credit Analysis in Vienna, Austria. He started his professional development in Economic Bank in 1991. In 1997 he headed the Lending Division of Bulbank. From 2001 to 2005 he was consecutively Executive Director in Rosseximbank, Municipal Bank and Encouragement Bank (the current Bulgarian Development Bank). In the last three years he was member of the Management Board and Executive Director of D Commerce Bank.

Bilian Balev

Deputy Chairman of the Management Board and Executive Director

CloseBilian Balev has graduated the University of National and World Economy, Sofia, majoring in Finances and Banking. In the period 1992-1995 he attended training courses and internships on banking and financial markets in the USA, UK and the Czech Republic. He specialized in American Express Bank in New York City and in 1995 he became qualified in Portfolio Management in Central European University, Prague. His career in the banking sector started in 1991 in Bulgarian Post Bank. In the period 1992-1995 he took positions at Private Agricultural and Investment Bank, Sofia, Finance and Brokerage House and Unionbank CB. From 1996 to 2001 he was the Executive Director of “Capman Inc.”. In 2001 he became the manager of Nobel Advisors and in 2004 – of Forem Consulting Bulgaria. He is Executive Director of BDB since September 2013.

Iliya Kirchev

Member of the Management Board and Executive Director

CloseIliya Kirchev has a Master`s degree in Finance from the University of National and World Economy, Sofia. His career started in 1995 in Agrobusinessbank in Plovdiv. From 1999 to 2003 he was the manager of the Plovdiv Branch of Allianz Bank Bulgaria. From 2003 to 2005 he took top management positions at HVB Bank Biohim. From 2005 to 2010 he was the head of the Plovdiv branches of Eurobank Bulgaria, and in 2011 he become Regional Corporate Clients Manager in Eurobank, Bulgaria. From 2012 he headed the Regional Plovdiv Branch of First Investment Bank AD. He is currently an assistant professor at the University of Agrobusiness and Regional Development in Plovdiv.