06.03.2014Municipal Bank Grabs 2013 Golden Martenitsa Award
Yet another award for the bank for the excellent financial results in the last two years
The Golden Martenitsa Awards were presented by Prime Minister Plamen Oresharski in a solemn ceremony on 03.05.2014 in Hall 6 of NDK. Municipal Bank was presented the award among the nominees of the financial sector. Sasho Tchakalski, Chairman of the Management Board and Executive Director, received the award for the bank.
With a share of 42.3% in its total assets Municipal Bank is the largest holder of Bulgarian government debt in terms of this ratio in the banking system.
Municipal and SME lending are priorities for the bank. Municipal Bank is a market leader with a share of 17% of municipal lending in the banking system. Nearly 21% of the municipal budgets in Bulgaria are served by the bank.
Moreover, the bank actively expanded its portfolio of attractive retail banking products in the last two years, with a part of the proposals ranking in the top 3 in the banking market. The bank’s development is viewed very positively by the sector.
The Golden Martenitsa Award is yet another distinction which Municipal Bank received over the past two years because of its excellent financial results.
The bank was ranked sixth in the 2012 Banks, Investments, Money annual ranking, in the most profitable bank category.
Municipal Bank was ranked seventh in the ranking of Best Bank in Bulgaria in 2012. This is the first time the bank has entered the top ten of Bulgarian banks announced by the Capital Weekly economic paper. The bank was among the first banks in Stability and Dynamics and Efficiency and Profitability, with a very good score by Stability and Risk and Size.
These excellent results reflect the professional and systematic work of the management which not only managed to modernize and restructure the bank, but also to increase and stabilize its market positions and contribute to the continued and dynamic profit growth.
“The activities of Municipal Bank are entirely focused on the financing of Bulgarian enterprises, municipalities and projects with prominent social element. It is a very important fact that with a share of 42.3% in the total assets Municipal Bank is the largest holder of Bulgarian government debt in the banking system,” Hristo Droumev, Honorary Chairman of “Made in Bulgaria” Union said.