DSK Bank

DSK Bank
Founded1951
HeadquartersSofia, Bulgaria
Total assets€14,74 mln (2022)[1]
Total equity€1,89 mln (2022)[1]
Websitewww.dskbank.bg
Ruse office
Targovishte office

DSK Bank (Bulgarian: Банка ДСК, Banka DSK; formerly Държавна спестовна каса, Darzhavna spestovna kasa — State Savings Bank) is the biggest Bulgarian bank.[2] It was founded in 1951 as the country's savings bank, and transformed into a joint-stock company in 1999.[3]

DSK Bank has been designated in 2020 as a Significant Institution under the criteria of European Banking Supervision, and as a consequence is directly supervised by the European Central Bank.[4]

History

The Bank was established under the name of the State Savings Bank (DSK) in 1951 by a decision of the Council of Ministers of the then People's Republic of Bulgaria.[5] It included the State Savings Bank and the nationalised 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.

Operations

In April 2022, DSK Bank announced its partnership agreement with Amsterdam-based fintech software provider Backbase.[6]

See also

References

  1. ^ a b "DSK Bank AD (Bulgaria) - Bank Profile". thebanks.eu.
  2. ^ "Bulgarian banks could face higher costs after country's greylisting". www.thebanker.com. Retrieved 2024-05-25.
  3. ^ "Restructuring of DSK Bank". www.sparkassenstiftung.de. 1994-01-01. Retrieved 2024-05-25.
  4. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.
  5. ^ "About DSK Bank". dskbank.bg. 2023-08-14. Retrieved 2024-05-25.
  6. ^ "DSK Bank partners with Backbase to accelerate its digital transformation". IBS Intelligence. 20 April 2022. Retrieved 4 May 2022.
  • Media related to Banka DSK at Wikimedia Commons
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