UK-based Revolut has become the largest bank in Lithuania in just five years, according to the country’s central bank. But the headline figure, which includes assets from customers outside Lithuania, does not necessarily reflect the full picture of competition in the domestic market. The digital bank’s rapid rise has added new momentum to a sector…
Since the beginning of the public campaign to explain Bulgaria’s adoption of the euro, over BGN 1 billion has flowed into the country’s banking system. The shift appears to be largely driven by growing public awareness and confidence regarding the upcoming currency transition. Banks in Bulgaria were among the first sectors to begin preparing for…
Fitch Ratings has upgraded the long-term credit rating of the Bulgarian Development Bank (BDB) from BBB to BBB+, assigning it a stable outlook. The new rating aligns with Bulgaria’s sovereign rating, reflecting the agency’s confidence in the country’s fiscal stability following its decision to adopt the euro. The move signals strengthened trust in both the…
Several Bulgarian banks have introduced a period during which individuals can deposit cash in leva into their accounts free of charge. The initiative is part of preparations for the country’s adoption of the euro on January 1 next year. According to Tsvetanka Mincheva, Deputy Chair of the Association of Commercial Banks in Bulgaria, leva deposits…
Although converting leva into euros may appear straightforward – just divide by the fixed rate of 1.95583 – reality brings far more complexity. The transition comes with a massive logistical operation. According to preliminary Bulgarian National Bank (BNB) estimates, around 640 tons of banknotes and 7,700 tons of coins will be pulled from circulation, most…
The Board of the National Bank of Ukraine (NBU) has decided to keep its key policy rate at 15.5%. This will support the sustainability of the FX market and keep inflation expectations in check. “If threats to the sustainable decline in inflation toward the 5% target increase, the NBU will keep its key policy rate…
The Association of Banks in Bulgaria has issued a statement expressing unequivocal support for Bulgaria’s accession to the eurozone on January 1, 2026. In its message, the organization emphasizes that the country’s banking sector is already deeply integrated with the eurozone, paving the way for a smooth transition. The Association acknowledges the significant progress in…