Bulbank celebrates its 40-year anniversary as the biggest Bulgarian bank and as an undisputable leader at the market in terms of assets, net profit and shareholder's equity. Bulbank continuously expands its positions at the credit market of the country, keeping a high quality of assets.

In the recent three years, after the privatization, the total investments of Bulbank in the Bulgarian economy, as credits and securities, marked nearly fourfold growth reaching BGN 1.3 bln. The credit portfolio growth since year 2000 is equal to 260% or BGN 620 mln.

Right after the privatization of Bulbank, the process of reorganization of the structure and the business model of the bank started, oriented towards clients, quality excellence of services, and introduction of new products. Since 2001, Bulbank has been very actively penetrating the individual and family banking.

During year 2002, practically started the establishment of the new IT system of the bank which is one of the biggest projects in the information technologies field in Bulgaria.

In 2003, Bulbank started offering the first, and the only one of its kind, investment product - the Mutual Funds Pioneer Investments. Bulbank also launched the contemporary credit cards Mastercard and Visa International.

Since 2003, the new Bulbank's Mortgage Loans Program offers five different credits to meet the different client's needs. Purchase or building of an estate, building of an estate together with a construction company, overhaul or reconstruction of the existing house, purchase of a new estate, whereas the client pays off another loan, and financing of a new estate, while the client sales his old lodging.

Bulbank was founded in 1964 under the name of Bulgarian Foreign Trade Bank (BFTB), 100% state owned, with paid-up capital of BGN 40 mln, and statutory specialization in foreign trade payments and finance. Initially Bulbank's premises was in the building of BNB.

During the period 1969-1985 three foreign representative offices of the bank were opened - in London, Frankfurt and Vienna. The bank started expanding its network of correspondent banks around the world.

In 1987 Bayerish-Bulgaricshe Handelsbank was founded as a joint bank by Bayerische Vereinsbank and Bulgarian Foreign Trade Bank with a head office in Munich. In 1998 the bank was registered as HypoVereinsbank Bulgaria Gmbh. In 1988 Bulgarsovinvest was founded as a joint-stock financial company by BFTB and Vneshekonombank. In 1994 Bulgarsovinvest was reincorporated as Corporate Commercial Bank AD.

In 1991 Bank Consolidation Company was established which held 98% of Bulbank share capital. Bulbank was the first Bulgarian bank to join the SWIFT system of international payments.

In 1992 the Annual General Meeting of Shareholders approved a new Statutes of the bank which laid down the legal foundation for the bank to develop as a universal commercial bank. The capital of the bank was increased from BGN 320 mln to BGN 1.2 bln (1.2 m shares of BGN 1000 face value each) The Bank moved to its new premises at Sveta Nedelya Square in the Sofia city center. One year later the bank started to build its domestic branch-network by opening branches in Plovdiv and Kardjali.

In 1994 the Annual General Meeting of Shareholders decided to change the name of the bank from Bulgarian Foreign Trade Bank to Bulbank. An interesting fact is that since the establishment of the bank it has been known among the banking circles as Bulbank, which is its telegraph and telex address. The expansion of the bank's branch network continued - to Bulbank were joined Trade Bank Bourgas and Trade Bank Stara Zagora.

During 1995-1997 period the bank's capital was increased several times while in 1998, when the privatization procedure was opened, the capital reached BGN 166 370 160 000 non-denominated. During the same year Bulbank spreads its electronic system for international cards payments with the products of Visa International and Europay, and at the meantime continued to build up its branch network around the country.

In 2000, during the privatization process, Bulbank consecutively sold its participations in Corporate Commercial Bank AD, UBB and HypoVereinsbank Bulgaria. On 2nd October 2000 Bank Consolidation Company's shares were transferred to UniCredito /93%/ and Allianz /5%/. At the Extraordinary General Shareholders Meeting a two tier corporate management system of Supervisory Board and Management Board was introduced.

In 2001 the Bulbank's major shareholder UniCredito Italiano sold minor stakes to the Simest SPA /2.5%/ and to the International Financial Corporation /5,3%/. Bulbank embarked on a process of deep redesign of its business model and introduction of a new organizational structure directed to better service quality of bank's clients, and to improving its efficiency and financial results. At this moment Bulbank posses minor participations in different companies like Orel - G Holding, Bulstrad, Bankservice and others.