Local Banks' Market Share at 15.7%
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The market share of local banks has declined to 15.7% as at the end September 2008, data of the Bulgarian National Bank (BNB) show. The subsidiaries of banks from EU countries controlled a 77-percent share of the market, while the branches of banks from EU and outside of EU had 4.5 and 0.6%, market share, respectively.
Local banks include First Investment Bank, Corporate Commercial Bank, Central Cooperative Bank, Municipal Bank, Investbank, International Asset Bank and Bulgarian Development Bank.
The five biggest lenders in the country have increase slightly their market share to 57.8%. UniCredit Bulbank tops the rating with 15.43%, followed by DK Bank and UBB with 12.64 and 11.41% market share, respectively. Raiffeisenbank and Eurobank EFG rank fourth and fifth with 10.33% and 7.99%, respectively. The remaining 24 banks and branches hold a combined 42.19% of the market.
The total value of the assets of the banking sector amounted to 69.3 bln leva at the end of the third quarter of 2008, up by 5.5%, compared to June 2008.
The banking system booked 1.1 bln leva for the first nine months of the year, up by 245 mln leva compared to the year-ago period.
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