Home >
Doing Business > News
|
About Us | Advertise | Expat Games |
News |
 |
Bulgaria’s blooming banks
Sticking to the basics has kept Bulgarian banks going strong through the current crisis
Scarcely a day seems to pass without news breaking of yet another tectonic shift on Wall Street, but away from the tumult of the global financial crisis Bulgarian banks are still doing brisk business, posting a 10.5 per cent increase in assets during the second quarter of 2008.
Despite almost a decade of solid growth, Eastern European countries remain under-banked compared to the West of the continent and the US, but that might be just the reason the worst of the crisis would pass them by. Foreign banking groups that have expanded into the region never felt the need to use complex financial instruments, the cause of much of Wall Street’s troubles, when old-fashioned banking was enough to bring them solid revenues and profits.
“The new EU member states have been holding up well in the global financial turmoil,” news agency Reuters quoted International Monetary Fund regional representative for Central Europe and the Baltics, Christoph Rosenberg as saying.
For the full article, see sofiaecho.com
Bulgaria Finmin shoots down proposal to change bourse management..
Bringing a new view to a classic taste..
Consumer feedback wanted on electricity bills..
Art
Live Music