DOCSLIB.ORG

Draft. NL 7.2006.Pub

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Draft. NL 7.2006.Pub Volume 2, issue 7 30.072006 INTERNATIONAL COMMISSION FOR POSTAL FINANCIAL SERVICES & BUSINESS /ICPFSB/ Post € Fin - Newsletter / Special Issue Special points of PostFinance reports encouraging growth interest: 28 July, 2006 - [Press Re- • Ghana: “Financial lease] services as a central “PostFinance continued to component for the grow in the first half of survival of postal 2006. The inflow of new services” money amounted to 2.35 billion francs, almost 400 • Germany: “Postbank million francs above the expects to generate a year-back period. Cus- further significant tomer deposits have risen increase in average to 39.8 billion francs. In earnings per cus- parallel, the number of accounts increased to tomer through the 61,000 in the first six new sales outlet” months of the year. PostFi- nance also posted strong creased by 119 positions, and a consulting • Switzerland: growth for mortgages (+16.2 further 20 positions are budg- “PostFinance to %), an increase of 234 million eted for by the end of 2006. PostFinance is and remains launch video francs. The average headcount innovative and will be the first consulting” has risen by 119 since Janu- Yellownet is growing in financial institution in Swit- ary, compared with the year- popularity zerland to offer financial ad- back period. Following suc- vice by video link. A pilot test cessful tests, PostFinance is to In 1998, PostFinance became conducted from October 2005 Inside this issue: intro-duce financial advice by the first financial institution to to March 2006 at post offices video link to reinforce sales. introduce an e-finance solu- in western Switzerland has tion (yellownet) for electronic produced important findings Investments in growth are account management in 1998: for the rollout. PostFinance Bancpost is opening five new agencies in paying off for PostFinance. an innovation that has paid will install both video and Constanta in a single 2 The financial arm of Swiss off. The number of yellownet telephone consulting facilities day Post again increased the in- customers had increased to at suitable post offices in the flow of new money and cus- 713,600 by the end of June, course of the next year. This is Postbank Offers ATM tomer deposits in the first six corresponding to 42,000 new part of its previously an- Payment with EuroLine, months of the year. In paral- customers since the end of nounced plan to reinforce its American Express and 3 lel, the number of customer VISA Credit Cards 2005. Each month, 7,000 new presence at 600 post offices. accounts rose by 61,000 to customers register for yel- The choice of locations will be Correos aims to launch 3.07 million. Loans to private lownet, enabling PostFinance made by PostFinance and Post BanCorreos before the 4 and business customers per- to further expand its position Offices & Sales in the next few summer.” formed well. Mortgage vol- as the clear number one in e- months. In this way, PostFi- Portuguese postal ser- umes rose by 234 million finance. The trend towards nance will combine its finan- vice looks for partner in francs in the first half, corre- 7 electronic payments is con- cial expertise with high cus- Angola to implement sponding to an increase of tinuing. In the period from tomer traffic volumes at the Payshop system 16.2 %. Overall, loans went up 1999 to 2005, the number of post offices, thus strengthen- by 367 million. PostFinance’s Mongolia's XacBank 10 transfers via yellownet went ing sales. “ joins Eurogiro network growth has had a positive ef- up from 224.4 to 329 million fect on the human resources (+46.6 %). Ghana Post to Diversify 12 situation. Since January, the Pilot test concluded: Post- Services average headcount has in- Finance to launch video Volume 2, issue 7 Bancpost inaugurates its new “Plata Victoriei” agency in Bucharest 27 July, 2006 - [Press Re- tal city not less than seven Hunedoara Street, Bloc lease] new units in July. Thus, the H4-H5, entrance 1-2, sec- Bank?s operating network in tor 1, which is the 164th “Bancpost is ”Bancpost is consistently fol- the Bucharest region will unit of Bancpost. consistently lowing its policy of rapid grow to 39 units. expansion and modernisa- The other newly opened or following its policy tion of its territorial network, In such a highly dynamic almost ready-to-open units of rapid expansion the Bucharest one in particu- context, on Thursday, July are located in several densely and modernisation lar. After it inaugurated five 27th, the formal cere- populated areas of Bucha- of its territorial new units in just one day in mony will take place for rest, such as in Iuliu Maniu, Constanţa at the beginning of the opening of the new Nicolae Titulescu, Ion Miha- network” July, the Bank is now on the "Piata Victoriei" Agency lache, Lacul Tei avenues as verge of opening in the capi- located in 6, Iancu de well as in şoseaua Colentina Bancpost is opening five new agencies in Constanta in a single day 13 July, 2006 - [Press Re- been opened today provide cies is part of the policy of lease] an entire range of banking Eurobank EFG, the Bancpost operations for the general majority shareholder, tar- ”As of today, Bancpost has public: current accounts, geted to modernize the five more agencies in Con- bank deposits, RON and for- Bancpost units by removing “The new units stanta. Thus, the operational eign currency loans, debit the closed teller counters, by provide access to the network of the bank consists and credit cards, foreign ex- organizing the space as an bank products and of 6 units situated in the city change, payment of bills, open platform, providing from the Black Sea coast. savings instruments, etc. room for the officers special- services for a larger izing in client services and for number of clients. The five new agencies are Furthermore, the agencies the tellers, and by imple- Bancpost currently located as follows: the Dacia have ATMs provided with menting the new corporate owns 160 Agency, at 235 Tomis Blvd, POS terminals, which accept identity. The "Casa de Cultura" all types of electronic reading operational units, Agency, at 43 "1 Decembrie cards, such as VISA, Maestro, The new units provide access distributed through- 1918" Blvd., "Nicolae Iorga" MasterCard and AMEX. to the bank products and out the entire Agency at no. 146 Tomis services for a larger number territory of the Blvd., Soveja Agency, at no. The working hours of the of clients. Bancpost currently 281 Tomis Blvd., and the new units are Monday to owns 160 operational units, country” Tomis Agency, at no. 97 Friday, between 09:00 and distributed throughout the Tomis Blvd. 17:00. entire territory of the coun- try.” All the agencies which have The opening of the new agen- Eurobank EFG to acquire Universal Bank in Ukraine 24 July, 2006 - [Press work of 32 branches with ca. mercial banking products, Release] 480 employees. At the end of including consumer and auto 2005 Universal Bank had loans, mortgages, deposits, “Eurobank EFG has reached Shareholders’ Equity of USD credit cards, money transfer “Eurobank EFG has an agreement with private 16.5 million and Total Assets and currency services, retail reached an shareholders of Universal of USD 79 million under brokerage, insurance and Bank in Ukraine to acquire IFRS. The Bank is affiliated investment products, as well agreement with pri- shares representing 99.34% to the Universal Investment as trade and working capital vate shareholders of of the bank’ s share capital. Group, active in insurance, finance, factoring, term fi- Universal Bank in Universal Bank is a medium- retail fuel distribution, in the nancing and custodian ser- Ukraine to acquire sized bank based in Lviv and food sector and in construc- vices to institutional inves- focused on Western Ukraine tion & real estate. tors. shares representing and Kiev operating a net- Universal Bank employs a Eurobank EFG considers that 99.34% of the bank’ Page 2 variety of distribution chan- Ukraine, with a population of s share capital” nels and offers a wide range ca. 47 million, will experience of retail banking and com- high rates of economic Volume 2, issue 7 Eurobank EFG to acquire Universal Bank in Ukraine (cont.) growth in the medium-term. tionwide coverage, building a Europe. Furthermore, this The very low penetration leading bank in the Ukrain- transaction is in line with rates of banking products ian market. Eurobank EFG’s practice of “This transaction is and especially of household The acquisition of Uni- entering new countries with in line with lending point to a very sig- versal Bank in Ukraine selective investments, aiming Eurobank EFG’s nificant growth potential for follows the roll out of a to create shareholder value practice of entering the country’s banking system, branch network in Po- through organic growth which is already experienc- land and the acquisition achieved via offering supe- new countries with ing one of the fastest growth of Tekfenbank in Turkey rior quality of service. selective rates in Eastern Europe. earlier this year and is con- Closing of the transaction, is investments, aiming Eurobank EFG believes that sistent with the announced subject to regulatory approv- to create the acquisition of Universal strategy of Eurobank EFG als in Ukraine, Greece and Bank allows it to enter this group to expand its activities Switzerland, and is expected shareholder value” attractive market and ex- in the most important mar- to occur in the fourth quarter pand to achieve strong na- kets of Southern and Eastern of 2006.” Postbank Improves the Terms on the Fast Consumer Loans The Consumer Loan Repayment Period Is Extended from 5 to 10 Years 19 July, 2006 - [Press Re- 10.5% for the first year.
Load more

Recommended publications
  • Amcham Body 69V4.Qxd
    issue 69 may 2006 Bulgaria, United States Sign on Joint Training Facilities ■ IMF Performance Review Completed With Three Waivers ■ AmCham and Symix Host an Award Ceremony ■ Maritsa Forum Mulls Infrastructure, Industrial Zones and Support of SMEs ■ Member News ■ New Members NATO IN SOFIA: An April Walk Through a Global Agenda American Chamber of Commerce in Bulgaria Business Park Sofia, Mladost 4 Area, Building 2, Floor 6, 1715 Sofia Tel.: (359 2) 9769 565 Fax: (359 2) 9769 569 homepage: www.amcham.bg e-mail: [email protected] editorial Dear Readers: Each of us has a personal interpretation of the beneficial corollaries for Bulgaria from the just-concluded NATO meeting in Sofia (please read in-depth analyses by Boyko Vassilev and Panayot Angarev on pp. 4-14). Most of you, too, have a position on whether Bulgaria and Romania's EU entry will be delayed by a year. Neither I, nor any other journalist can answer this question definitively at this time (for details, see Yuliana Boncheva's article on p. 22.) NATO and the European Union have been subjects of numerous articles in our publica- tion, among others. So I would rather switch your attention toward another topic now. Namely, it is the story by Chris Warde-Jones in the New York Times on Sofia as a tourist destination, which was published in the newspaper of record in early May. (We present it for you on p. 44.) This travel feature offers a refreshing view of the Bulgarian capital, written by someone who was impressed by images of the city that are, generally speaking, flattering.
    [Show full text]
  • JAPAN POST BANK Annual Report 2018
    Annual Report 2018 Annual Report 2018 Year ended March 31, 2018 Management JAPAN POST BANK aims to become “the most accessible and trustworthy bank in Japan,” guided by Philosophy the needs and expectations of our customers. Trust Innovation We comply with laws, regulations, We work sincerely to improve and other standards of behavior our management and business and value trusted relationships operations in response to requests with customers, markets, from customers and changes in the shareholders, and employees and business environment. consistently serve as a responsible corporate citizen. Corporate Profile Corporate name JAPAN POST BANK Co., Ltd. Date of establishment September 1, 2006 Representative Executive Officer Norito Ikeda Address of head office 1-3-2 Kasumigaseki, Chiyoda-ku, Tokyo 100-8798, Japan OTEMACHI PLACE WEST TOWER, 2-3-1 Otemachi, Chiyoda-ku, Tokyo 100-8793, Japan (Plans to progressively relocate from November 5, 2018) Total assets ¥210,630 billion Total net assets ¥11,513 billion Capital ¥3,500 billion Number of employees* 13,009 * The number of employees excludes employees assigned to other companies by the Bank but includes employees assigned to the Bank by other companies. The figure does not include short-term contract and part-time employees. Referenced Guidelines • International Integrated Reporting Framework, International Integrated Reporting Council (IIRC) • Guidance for Integrated Corporate Disclosure and Company-Investor Dialogue for Collaborative Value Creation, Ministry of Economy, Trade and Industry Editorial Policy To foster a deeper understanding of JAPAN POST BANK’s corporate value among shareholders, investors and stakeholders, for this Annual Report we produced an integrated report that offers extensive information on management strategy and environmental, social and governance (ESG) as well as financial information.
    [Show full text]
  • Financial Sectors in EU Accession Countries
    Financial Sectors in EU Accession Countries EUROPEAN CENTRAL BANK EUROPEAN Financial Sectors in EU Accession Countries Financial Sectors in EU Financial Sectors in EU Accession Countries Editor: Christian Thimann Published by: © European Central Bank, July 2002 Address Kaiserstrasse 29 60311 Frankfurt am Main Germany Postal address Postfach 16 03 19 60066 Frankfurt am Main Germany Telephone +49 69 1344 0 Internet http://www.ecb.int Fax +49 69 1344 6000 Telex 411 144 ecb d Copies of the individual articles can also be downloaded from the ECB’s website. The views expressed in this publication are those of the authors and not necessarily those of the ECB. No responsibility for them should be attributed to the ECB or to any of the other institutions with which the authors are affiliated. All rights reserved by the authors. Editor: Christian Thimann Typeset and printed by: Kern & Birner GmbH + Co. ISBN 92-9181-292-7 Table of Contents Foreword “The importance of financial sector developments in EU accession countries” T. Padoa-Schioppa (European Central Bank) .....................................................................005 Summary “Financial sectors in EU accession countries: Issues for the workshop and summary of the discussion” C. Thimann (European Central Bank) ................................................................................007 “Key features of the financial sectors in EU accession countries” G. Caviglia, G. Krause and C. Thimann (European Central Bank) ...................................015 “The financial sector in Bulgaria: structure, functioning and trends” V. Yotzov (Bulgarian National Bank) .................................................................................031 “The financial sector in Cyprus: structure, performance and main developments” L. Georgiadou (Central Bank of Cyprus) ...........................................................................051 “The financial sector in the Czech Republic: an assessment of its current state of development and functioning” P.
    [Show full text]
  • To the Challenges of a New Era
    Open to the challenges of a new era ANNUAL REPORT2006 WorldReginfo - 9eefdb0a-d062-4b3b-b28d-bb9fee2e478a LONDON • One branch LUXEMBOURG • Presence through subsidiaries BULGARIA • 281 Branches • 287 Total points of presence • Loans of €1.5 bn. ROMANIA • 189 Branches • 201 Total points of presence • Loans of €1.7 bn. SERBIA • 103 Branches • 108 Total points of presence • Loans of €0.4 bn. WorldReginfo - 9eefdb0a-d062-4b3b-b28d-bb9fee2e478a POLAND POLAND • 70 Branches • 130 Total points of presence UKRAINE • Loans of €0.2 bn. ROMANIA UKRAINE • Universal Bank UKRAINE • 33 Branches SERBIA BULGARIA TURKEY GREECE TURKEY 31 Branches GREECE • 367 Branches • 520 Total points of presence • Loans of €31.1 bn. WorldReginfo - 9eefdb0a-d062-4b3b-b28d-bb9fee2e478a WorldReginfo - 9eefdb0a-d062-4b3b-b28d-bb9fee2e478a CONTENTS THE YEAR IN REVIEW 4 Members of the Strategic Planning Committee and the Executive Committee Financial Highlights Review Letter to Shareholders Financial Review The Eurobank EFG Share RETAIL BANKING 21 Retail Banking Service Networks Consumer Lending Mortgage Lending Small Business Banking CORPORATE BANKING 27 Lending to Large Corporates Lending to Medium-Sized Enterprises Shipping Leasing Factoring INVESTMENT BANKING & CAPITAL MARKETS 33 Investment Banking Equity Brokerage Treasury WEALTH MANAGEMENT 36 Mutual Funds Insurance Asset Management Private Banking INTERNATIONAL PRESENCE 40 Bulgaria Romania Serbia Poland Turkey Ukraine OTHER ACTIVITIES OF THE GROUP 46 Securities Services Payment Services Payroll Services Real Estate E-Commerce e-Banking and Internet Services RISK MANAGEMENT 48 CORPORATE GOVERNANCE 52 APPENDICES 55 Consolidated Financial Statements 2006 Eurobank EFG Group and EFG Group ANNUAL REPORT 2006 3 WorldReginfo - 9eefdb0a-d062-4b3b-b28d-bb9fee2e478a Members of the Strategic Planning Committee and the Executive Committee Xenophon C.
    [Show full text]
  • Efg Eurobank Ergasias S.A
    EFG EUROBANK ERGASIAS S.A. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2006 8, Othonos Street, Athens 105 57, Greece www.eurobank.gr, Tel.: (+30) 210 333 7000 Company Registration No: 6068/06/B/86/07 ANNUAL REPORT 2006 55 EFG EUROBANK ERGASIAS S.A. Directors' Report Business Outlook In 2006, the Greek economy grew much faster than the European average growth rate, as real GDP growth in Greece exceeded 4%. Macroeconomic prospects and banking sector developments were positive, as evidenced by the fundamentals and results. In the new era of transformation and development of the Greek economy, domestic banks assumed a leading role in providing valuable assistance to private enterprise, both in Greece, and in the greater region. 2006 was a year of new major achievements, international acclaim and wide recognition for Eurobank. In the domestic market, Eurobank has established itself as the leading banking group, steadily strengthening and differentiating itself from its competitors. Abroad, the Bank implements a visionary and disciplined development strategy, turning into a powerful regional player with a major role in the markets of Central, Eastern and Southeastern Europe (New Europe). Eurobank now addresses a market of more than 200 million residents, providing comprehensive coverage for all their needs for banking services and products. Acquisitions in Greece In March 2006, the Group increased its shareholding in Global Fund Management S.A. to 72% from 44.44%; as a result the company has been transferred from investments in associated undertakings to subsidiary undertakings. Disposals in Greece Eurobank and Intracom Holdings concluded the share transfer of the 100% of the share capital of Hellas on Line from Eurobank EFG to Intracom Holdings in January 2006.
    [Show full text]
  • KOBE ECONOMIC & BUSINESS REVIEW No.32
    ISSN O075-6407 KOBE ECONOMICBUSINESS & REVIEW 32nd ANNUAL REPORT ss"VTE'-Oee g,,[[El.../e v RESEARCH INSTITUTE FOR ECONOMICS AND BUSINESS ADMINISTRATION KOBE UNIVERSITY 1986 KOBE ECONOMIC & BUSINESS REVIEW 32nd ANNUAL REPORT ;'`i'E'"il13s g:s ,.e-. RESEARCH INSTITUTE FOR ECONOM[CS AND BUSI]NESS ADMINISTRATION KOBE UNIVERSrl'Y 1986 CONTENTS Import Demand Structural Change in the Pacific Basin Countries................................. ..............,Seiichi KATAyAMA Kenichi IsHiGAKi 1 ' A Synthetic Analysis of Structuralist and Monetarist Theory of Latin American Inflation... ..................Shoji NIsHIJIMA 15 Stagflation Causes and Policies ••. ..................Nobuo OKIsHIo 33 A Computable General Equilibrium Model of the Japanese Economy ............................ ...................Mitsuo EzAKi 55 IMPORT DEMAND S'IRUCTURAL CHANGE IN THE PACIHC BASIN COUNTRIES* by Selichi KATAyAMA*" and Kenichi IsHIGAKI 1. Introduction The purpose of the present paper is to investigate the structural change in the import demand of Pacific basin countries. Needless to say, international trade is important not only in the world economy but for macro-economic policy issues in a country. As is well summarized by Goldstin and Khan (1985), the estimation of trade equations that means equations for the time-series behavior of the quantities and prices of merchandised imports and exports, has still its importance. And one of the econometric issues in trade modelling is the stability of trade relationships. Whether a regression relationship varies or stable overtime is obviously important from a predictive and analytical point of view. There are many literatures on the structural change in trade equa- tions. [For example, Heien (1968), Joy and Stolen (1975), Stern, Baum and Green (1979) and Volker (1982)]. Recently Katayama, Ohtani and Toyoda (1985) examined the stability issues by applying the Bayesian method.
    [Show full text]
  • ACM IMCOM 2017, January 5–7 Beppu, Japan Conference Program
    ACM IMCOM 2017, January 5–7 Beppu, Japan Conference Program | Hosted by | | Sponsored by | Association for Computing Machinery (ACM) ACM SIGAPP Sungkyunkwan University (SKKU), Korea Universiti Kuala Lumpur, Malaysia ACM IMCOM 2017 초대의 글 ACM Special Interest Group on Applied Computing (SIGAPP)가 후원하고 성균관대와 말 레 이 시 아 UniKL 이 주관하는 제 11 회 IMCOM (International Conference on Ubiquitous Information Management and Communication)가 2017년 1월 5일(목)부터 7일(토)까지 일본인들이 가장 사랑하는 최고의 온천도시 벳부에서 일본 측 학자들의 큰 성원을 받으며 개최됩니다. 미래사회에서는 인간, 컴퓨터, 사물 간의 상호작용을 위한 새로운 패러다임 생성, 라이프로그의 활용, 컴패니언 디바이스의 역할, 특성, 맞춤 등 그에 따른 변화를 요구합니다. ACM IMCOM 2017에서는 컴패니언 IoT의 시대를 준비하며 새로운 패러다임에 기여하는 학술 교류 및 전문 지식의 전파를 위해서 세계 최고 수준의 전문가들을 모시고 미래부/IITP G-ITRC의 틀 안에서 심도있는 토론의 장을 마련하고자 합니다. ACM IMCOM 2017는 SCOPUS와 EI에 등재되어 있어 국제학술대회로서의 높은 권위를 유지하고 있습니다. 금년에는 20개국, 국내외 50개 이상의 기관에서 총 366편의 논문을 제출하였고, 그 중 113편의 논문이 선정되었으며, 수준 높은 학술 교류를 위해 세 분의 기조강연자를 모셨습니다. 빅데이터 및 데이터베이스의 권위자인 일본 University of Tsukuba의 Hiroyuki Kitagawa 교수님, HCI, 컴패니온쉽 분야의 명망 높은 한국 연세대 김진우 교수님, IoT UX분야의 전문가이자 현재 연구가 매우 활발한 한국 중앙대 신동희 교수님을 초청하였습니다. 열띤 토론과 학술정보의 교환은 물론 폭넓은 친교를 통해 성대한 만남의 장과 성공적인 학술회의가 이루어질 수 있도록 부디 적극 참석하셔서 본 학술회의를 더욱 빛내 주시길 부탁드립니다. 또한 학술대회 행사 중 겨울바다와 따뜻한 온천체험, 고요하고 평온한 풍광을 함께 감상하시고 휴식을 통해서 한 해를 새롭게 맞는 재충전의 기회로 활용하시기 바랍니다. 대한민국 성균관대에서 2006년 기획되어 2007년부터 시작된 작은 학술회의가 이제 매년 300편 이상의 논문이 제출되고 서로 아끼며 주목하는 세계수준의 학술회의로 자리 잡았습니다.
    [Show full text]
  • Japan-US-2009-Symposium.Pdf
    SYMPOSIUM ON BUILDING THE FINANCIAL SYSTEM OF THE 21ST CENTURY: AN AGENDA FOR JAPAN AND THE UNITED STATES ARMONK, NEW YORK • OCTOBER 23-25, 2009 AGENDA FRIDAY, OCTOBER 23 5:30-6:15 Doral Guests – Bus to the Weill Center departs approximately every 15 minutes 6:00-6:30 Cocktail Reception – Main Lobby of the Weill Center 6:30-6:40 GREETINGS – Conference Room H, second floor Hal Scott, Nomura Professor and Director, Program on International Financial Systems (PIFS), Harvard Law School Tribute to Tasuku Takagaki Takashiro Furuhata, Executive Director, International House of Japan 6:40-7:40 KEYNOTE ADDRESS – Conference Room H Bill Rhodes, Senior Vice Chairman, Citi; Senior Vice Chairman, Citibank Shigesuke Kashiwagi, President and Chief Executive Officer, Nomura Holding America, Inc. 7:45-9:15 Dinner – Main Dining Room, first floor 9:15-11:00 After-Dinner Cocktails – Main Lobby 9:15 Doral Guests – Bus to the Doral; meet in Main Lobby 10:00 Doral Guests – Bus to the Doral; meet in Main Lobby 11:00 Doral Guests – Last bus to the Doral; meet in Main Lobby SATURDAY, OCTOBER 24 7:00-8:00 Doral Guests – Bus to the Weill Center departs approximately every 15 minutes 7:30-8:15 Breakfast – Main Dining Room Panelists, Reporters, and Facilitators – Breakfast Meeting in Main Dining Room 8:15-8:25 WELCOME & OPENING REMARKS – Conference Room H Hal Scott, Nomura Professor and Director, Program on International Financial Systems (PIFS), Harvard Law School 1 8:25-8:45 PANEL SESSION – Conference Room H Topic 1: The Future of Banking and Securities Regulation Japan Panelist: Nobuchika Mori, Deputy Commissioner, International Affairs and Supervision, Financial Services Agency, Government of Japan U.S.
    [Show full text]
  • Amcham Body84v4.Qxd
    issue 84 november 2007 Economy: State Budget 2008; Foreign Investments; Energy Sector Amcham news: The start of meet-the- new-members Event Series Analysis: Turkey and the Kurds; Foreign Investment: New Capitals Flow American Chamber of Commerce in Bulgaria Business Park Sofia, Mladost 4 Area, Building 2, Floor 6, 1766 Sofia Tel.: (359 2) 9742 743 Fax: (359 2) 9742 741 homepage: www.amcham.bg e-mail: [email protected] editorial Dear Reader, You will probably notice that in this issue of AmCham Bulgaria Magazine we are not offering you an article on the 2007 mayoral elections, as we had promised last month when we introduced the main candidates. I am almost certain that you would not have noticed this absence, had I not mentioned it, and the reason is that the elections went by in a completely predictable fashion. Boyko Borisov, the leader of the newly formed GERB party, won in Sofia, and his associates took Plovdiv, Bourgas, Vidin, Dobrich, Stara Zagora, Yambol and Sliven. The ruling BSP got only Blagoevgrad, Varna, Lovech, Pernik and Smolian. The "democratic forces" - or what remains of them - got a mayor in Pleven only. In other words, a little over one-third of Bulgarian voters went to the polls and gave almost the entire local power to the former secretary of the Ministry of the Interior. Boyko Borisov himself - or "the General" as he is known for some reason - immediately declared that this is a harbinger of early parliamentary elections. We at AmCham Bulgaria Magazine think that the former policeman should be left to rule in Sofia, the former soccer star Yordan Lechkov, and all their GERB colleagues - where voters put them.
    [Show full text]
  • General Methodology of Market Reports
    © Copyright 2015 ystats.com GmbH & Co. KG, 22765 Hamburg, Germany 2 3 GENERAL METHODOLOGY OF MARKET REPORTS Secondary Market Research The reports are compiled based on secondary market research. Secondary research is information gathered from previously published sources. Our reports are based on information and data acquired from national and international statistical offices, industry and trade associations, business reports, business and company databases, journals, company registries, news portals and many other reliable sources. By using various sources we ensure maximum objectivity for reported data. As a result, companies gain a precise and unbiased impression of the market situation. Cross referencing of data is conducted in order to ensure validity and reliability. The source of information and its release date are provided on every chart. It is possible that the information contained in one chart is derived from several sources. If this is the case, all sources are mentioned on the chart. The reports include mainly data from the last 12 months prior to the date of report publication. Exact publication dates are mentioned in every chart. Definitions The reports take into account a broad definition of B2C E-Commerce, which might include mobile commerce. As definitions may vary among sources, exact definition used by the source (if available) is included at the bottom of the chart. Chart Types Our reports include text charts, pie charts, bar charts, rankings, line graphs and tables. Every chart contains an Action Title, which summarizes the main idea/finding of the chart and a Subtitle, which provides necessary information about the country, the topic, units or measures of currency, and the applicable time period(s) to which the data refers.
    [Show full text]
  • Bank-Fees-Bulgaria
    Bank Tariffs and Interest Rates in Bulgaria We, from Aidos Accountancy Company do our best to support our foreign clients for their local business in Bulgaria. On the one hand, we provide them with professional accountancy services in conformity with Bulgarian laws and regulations. On the other hand, it is important to keep you, our clients informed about the local banking rates, terms and conditions. We truly hope that the information below will help you choose the most suitable bank for your business in Bulgaria. In addition, you may also visit the links below to learn more about the bank products, promotions and terms and conditions. Internatinal Asset Bank Opening of payment accounts BGN 5,00 Account maintenance and operative servicing BGN 7,00 per month Accepting cash deposits for amounts up to BGN 10 000,00 daily Free of charge Accepting cash deposits for amounts exceeding BGN 10 000 daily 0.15%, max BGN 200,00 Cash withdrawals up to BGN 3 000 daily Free of charge Cash withdrawals from BGN 3 000 to BGN 20 000 daily 0.2% on the amount drawn Payments in foreign currency for companies amounting up to EUR 1 000 EUR 5,00 Payments in foreign currency for companies amounting from EUR 1 000 to EUR 12 500 0.10%, min EUR 10,00 Customer Credit Transfers in favor of companies 0.1%, min EUR 10,00 max EUR 100,00 Highest interest rate on deposit account. 7,20% Find more information and other rates here (link to page with rates) http://www.iabank.bg/en/page/28 Emporiki Bank for BGN BGN 10.00 EUR 5.00 or equivalent in other Opening of payment accounts foreign currency Account maintenance and operative servicing BGN 8.00 4 currency units Accepting cash deposits for amounts up to BGN 6 000,00 incl.
    [Show full text]
  • ANNUAL REPORT 2007 Eurobank EFG Group: More Than 1,500 Servicing Units and 22,000 Personnel, in a Market of 200 Million People
    ANNUAL REPORT 2007 Eurobank EFG Group: More than 1,500 servicing units and 22,000 personnel, in a market of 200 million people. GREECE 400 Branches 558 Total servicing units €37.4 bn. Loans BULGARIA 224 Branches 233 Total servicing units €2.4 bn. Loans ROMANIA 237 Branches 255 Total servicing units €3.1 bn. Loans SERBIA 101 Branches 106 Total servicing units €848 m. Loans POLAND 248 Branches 254 Total servicing units €1.7 bn. Loans UKRAINE 75 Branches 78 Total servicing units €334 m. Loans TURKEY 36 Branches €715 m. Loans CYPRUS 1 Branch €106 m. Loans LONDON Branch LUXEMBOURG Subsidiaries Data as at 31.12 2007 Contents 2 THE YEAR IN REVIEW 4 Members of the Strategic Planning Committee and the Executive Committee Financial Highlights Review of the Year Letter to Shareholders Financial Review The Eurobank EFG Share RETAIL BANKING 19 Retail Banking Service Networks Consumer Lending Mortgage Lending Small Business Banking CORPORATE BANKING 25 Lending to Large Corporates Lending to Medium-Sized enterprises Shipping Leasing Factoring INVESTMENT BANKING AND CAPITAL MARKETS 32 Investment Banking Equity Brokerage Treasury WEALTH MANAGEMENT 36 Mutual Funds Insurance Asset management Private Banking INTERNATIONAL PRESENCE 41 Bulgaria Romania Serbia Turkey Poland Ukraine Cyprus OTHER ACTIVITIES OF THE GROUP 48 Securities Services Payment Services Payroll Services e-Banking, e-Commerce and internet services Real Estate RISK MANAGEMENT 50 CORPORATE GOVERNANCE 54 APPENDICES 57 Consolidated Financial Statements 2007 Eurobank EFG Group and EFG Group ANNUAL REPORT 2007 3 Members of the Strategic Planning Committee and the Executive Committee 10 11 8 9 7 5 6 4 3 2 1 4 13 Members of the Strategic Planning Committee 12 and the Executive Committee George C.
    [Show full text]