Bulgaria

Number one for domestic and international clients

At UniCredit Bulbank, Global Securities Services covers the full range of services including safekeeping, settlement, corporate action and proxy voting, pension fund administration and NAV calculations, advisory functions on financial markets etc. The number one custodian features the biggest leading and cross-border client base

The Bank’s in-house development of IT-solutions, furthermore, reaches the highest level of STP processing. It comprises experts of security services with large-scale and deep market knowledge and a long track record in both, in- and outbound businesses, who consistently provide top services and strong client-oriented approaches.

UniCredit Bulbank is the subcustodian with the most extensive coverage of the CEE region, which is crucial for the large number of domestic clients investing abroad.

Sigla valuta: 
BGN
Contact information: 

Madlen Mineva
Head of Global Securities Services, Bulgaria
+359 2 923 2673
madlen.mineva@unicreditgroup.bg

Borislav Hitov
Senior Relationship Manager
+359 2 923 2670
borislav.hitov@unicreditgroup.bg

Address: 

UniCredit Bulbank AD

7 Sveta Nedelya Square
BG-1000 Sofia, Bulgaria

http://www.unicreditbulbank.bg

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Profile: 
PDF icon Market Profile Bulgaria - January 2024.pdf
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Bank: 
UniCredit Bulbank AD
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The Bulgarian National Bank has made amendments to government securities regulations in relation to its T2S migration

The Bulgarian National Bank (“BNB”) has amended as of 11 September 2023 Ordinance No 5 of 4 October 2007 on the Terms and Procedure for Acquistion, Registration, Redemption and Trade in Government Securities (‘Ordinance No 5’) and Ordinance No 31 of 4 October 2007 on Government Securities Settlement (‘Ordinance No 31’), mainly as a result of the CSD’s joining to TARGET2-Securities (“T2S”) as of 11 September 2023.

Optional changes in settlement instructions related to T2S migration of Bulgarian CSDs.

Considering the available information announced by the Bulgarian CSDs – Central Depository AD (“CDAD”) and the Bulgarian National Bank (“BNB”) – related to their upcoming migration to TARGET2-Securities (“T2S”) on 11 September 2023, UniCredit Bulbank will put in place as of the same date the following optional changes for its clients instructing settlement at T2S:

Bulgaria aligned the whistleblowing regulation with the EU legislation

Protection is granted to those who report a breach                                                                                                                                                                                                             

Custody System Comans successfully enhanced and BACS decommissioned in UniCredit Bulbank (Bulgaria)

It is with great pleasure to announce that today marks the first day for the start of a new era for UniCredit Global Securities Services in Bulgaria.
Keeping in line with our ongoing multi-year project, with this implementation, Bulgaria has become the next market to have replaced BACS, by enhancing its main (local) custody system Comans, and, in turn, caps off years of dedicated commitment by realizing a major milestone towards digital evolution.

BACS to be decommissioned in UniCredit Bulbank (Bulgaria)

Following the strategic decision of UniCredit to substantially invest and as such replace its Global Securities Services IT platform BACS with a new IT solution, as well as considering the focus in 2023 on the system transition in Hungary and Austria and also the local market developments in Bulgaria, a project has been set up in UniCredit Bulbank to replace BACS by enhancing the main (local) custody system Comans Custody used by the bank aiming to provide a state-of-the-art solution for the clients.
 

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