The average interest rate on consumer loans in levs decreased by 0.05 percentage points to 9.01% in October compared to September, BNB data show. The annual percentage rate of charge on these loans decreased by 0.08 percentage points to 9.33%. For housing loans in levs, the average interest rate increased slightly to 2.47%, and the annual percentage rate of charge on these loans - by 0.03 percentage points to 2.85%. The average interest rate on other loans in levs decreased by 0.32 percentage points to 3.91%, and on other loans in levs to employers and self-employed persons - by 0.16 percentage points to 4.03%. In October, the average interest rate on overdrafts in levs increased by 0.04 percentage points to 13.77 percent, and on credit card loans, outside the interest-free grace period, in levs - by 0.23 percentage points to 21.53 percent. In lending to businesses in October, the average interest rate on loans up to 1 million euros, agreed in levs, decreased by 0.08 percentage points to 3.92 percent, and on those over 1 million euros it increased by 0.12 percentage points to 4.32 percent. The average interest rate on loans up to 1 million euros, agreed in euros, increased by 0.19 percentage points to 4.18 percent, and on loans over 1 million euros - by 0.10 percentage points to 4.36 percent. The average interest rate on overdrafts in levs fell slightly to 3.32 percent, while the overdraft in euro increased by 0.02 percentage points to 3.67 percent. In household deposits in October, the average interest rate on deposits with agreed maturity in levs remained at 0.81 percent, while that in euro increased by 0.09 percentage points to 1.40 percent. The average interest rates on overnight deposits in levs and in euro remained at 0.01 percent. The average interest rate on deposits agreed and redeemable at notice in levs increased by 0.01 percentage points to 0.28 percent, while that in euro remained at 0.15 percent. In October, compared to September, the average interest rate on deposits with agreed maturity in levs increased by 0.18 percentage points to 1.32 percent, and on those in euro - by 0.07 percentage points to 1.72 percent. The average interest rate on overnight deposits in levs remained at the level of 0.05 percent, and on those in euro decreased by 0.05 percentage points to 0.10 percent.

The most commonly used main currencies for payments in Bulgaria last year were the dollar, euro, lev, Chinese yuan and British pound, outlined the trends in our country by the international payments company for businesses iBanFirst. It has analyzed 189,945 SWIFT transactions made by its clients through the platform in 2024 and tracked through the so-called iBanFirst Payment Tracker. The data shows that there is a strong dominance of the US dollar, which accounts for 69.11% of all international SWIFT payments from Bulgaria, while globally they are nearly 58%. Payments in dollars and euros together form 83.3% of outgoing transactions by number and 95% by volume in Bulgaria. The main destinations, depending on the most frequently used corridors, are China, Turkey, India, Hong Kong and the USA. At the European level, iBanFirst's analysis shows clear differences in the speed of international payments. The dollar remains the leading currency: 58% of all tracked transactions are in US dollars, with the main destinations being China, Hong Kong and the US. Widely traded currencies such as the dollar, euro and British pound are processed faster thanks to mature, automated international networks. Less frequently traded currencies often undergo additional checks.

Plot of 111 decares with a newly built 4.9 MWp photovoltaic plant (56 decares) and an adjacent free plot (55 decares) with development potential at a key location in the city of Blagoevgrad

Over 10 million leva are the expenses incurred by Kaufland Bulgaria in preparing for the transition to the euro, announced Tsvetomir Uzunov, the company's financial director. The bill has not been finalized, because the leva banknotes and coins are due to be collected in January. And the logistical operations and management of significant cash flows when withdrawing leva require a complex organization of transport, security and cooperation with the banking sector. The most significant part of the expenses is directed at the IT infrastructure and the adaptation of the systems. Hundreds of specialists are involved in the process to change software settings and labels. Reconfiguring the ERP systems for the transition from leva to euro, integrating multiple modules cost the company 9 million leva and 27 thousand hours of employee work. Kaufland Bulgaria has 70 stores, in which an average of 10 employees are employed at the cash register. They will be the first to have direct contact with customers in the process of switching to the euro. For all of them, the chain has invested in over 4,000 hours of training, which includes not only working with the new currency, but also developing tolerance and patience skills, so that each customer is served with attention and understanding, the company says. To provide change in euros, the company will have to load roughly one ton of cash into each of its stores. The two additional days off, determined by a government decision - December 31 and January 2, will be working days for Kaufland employees. Paying double wages to the workers will cost the company 500,000 euros. The chain is also calculating the costs of replacing shopping carts to adapt their coin dispensers to accept euros. There are over 200 carts in each of the company's 70 branches. The new ones will work with 50 cent, one and two euro coins. The old ones - until replaced, will accept 20 and 50 stotinki and 20 cent coins. Tokens will also be provided. Part of the chain's expenses are also related to the obligation to submit price data to the Competition Commission's website every morning.

Bulgarian companies in Lidl's European retail network reported over 60 million leva of turnover in the first half of 2025. Local producers are expanding their presence internationally, reaching 28 countries. This is also accompanied by a tangible growth in turnover - as much as 29% in the first half of the year, compared to the same period last year. During the first 6 months of the year, a total of 30 Bulgarian companies sold their products in other countries together with Lidl. Although the number of producers is decreasing (from 36 to 30) compared to the same period of the previous year, the turnover is steadily increasing. The leading market in terms of turnover, logically, is neighboring Romania, which reports 17.6 million leva. Second place goes to another neighboring country - Greece, with 15 million leva. The companies exporting to Romania in the first half of this year increased from 16 to 18, and the range of items - from 35 to almost double 67. On the contrary, in Greece the number of exporting companies decreased from 9 to 5, and the range was reduced from 26 to 15 items. However, the turnover increased by 2.3 million leva. However, Germany, which occupies the last position in the top 3, brings the big surprise. The country can boast of an almost doubled import of products from Bulgaria for the first half of the year, which reached 8.9 million leva (compared to 4.7 million leva in the same period of 2024). The growth in turnover of the leading products for this market is impressive. Among them, chocolate-covered fruits and nuts stand out, for which the export turnover increased by almost 50%. Their manufacturer "Victoria Nuts" EOOD reports over 3.5 times growth in export turnover in the first half of 2025, with Germany becoming their largest market in the Lidl network. A wonderful example of the symbiosis between brand recognition and high quality are the organic raw bars of "Smart Organic" AD. They are offered under the Lidl brand Alesto and are already sold in 11 European markets, and their total export turnover with the retail chain for the first half of 2025 increased by as much as 129.12 percent, compared to the same period last year. Although far from the leading positions in the overall ranking, the markets reporting the greatest growth on an annual basis deserve attention. These are Italy with almost 90%, Serbia and Poland. In the first half of 2025, there were some shifts in the distribution of the most widely sold products in the Lidl network abroad compared to the same period of the previous year. In first place is the sunflower oil of "Klas Olio" EAD. On an annual basis, the company adds two new ones (Cyprus and Hungary), to its only market by 2024 - Greece. Next are the various varieties of bread of "Hebar" EAD, most in demand among Lidl customers in countries close to our taste and culture - the Czech Republic, Croatia, Latvia, Slovenia and Serbia. The results in Romania of the new, but gaining serious popularity, producer "Born Winner Global" EOOD, with a wide assortment of over 20 high-protein and fitness foods and drinks, are impressive. One of the most dynamically developing categories is that of snacks and chips. "Ficosota Food" EAD successfully sells its products in 10 European markets (compared to only 2 in the first half of last year), and this allows it to report an 8-fold increase in its turnover on an annual basis. Another "excellent" is "Organic Food" EOOD. The company is making a big leap - from exporting corn chips to Lidl in the Czech Republic in 2024, to a total of 18 markets today, where it sells a wider range of products such as white and brown rice chips, popcorn and corn snacks with different flavors. The ice cream dessert mochi with producer "Korte Dileto" EOOD has recently partnered with the retail chain, and already reaches 20 European markets outside Bulgaria. We are also observing positive results in another category - that of oriental-type products. The traditional kadaif of "MJ Catering" EOOD, for example, has almost doubled its export turnover on an annual basis and reaches six markets in Europe.

The former owner of the Union Ivkoni bus company, Ivaylo Konstantinov, is buying the main fuel base of the Stara Zagora-based Zara-E and its eight gas stations. The Stara Zagora-based fuel company, Zara-E, has been on the market for 35 years and owns the largest private oil base in Southern Bulgaria, and its manager, Zhivodar Terziev, was the chairman of the Bulgarian Oil and Gas Association. At the end of last year, the company's business was blocked, as it found itself in the position of a fraudulent intermediary and became the victim of a fraud with supplies supposedly directed to a US military base in Bulgaria. This is the second major purchase this year by Ivaylo Konstantinov in the fuel market. He is also in the process of finalizing the deal to acquire the Gazprom gas station chain in Bulgaria and its base in Kostinbrod, near Sofia. In the meantime, he has also bought a small fuel base in Pleven of rather local importance. The deal for Gazprom's business was approved by the Commission for the Protection of Competition (CPC) this fall and payment was expected to be made, but due to US sanctions it is currently frozen. In the meantime, the entries in the account of "NIS Petrol", the company through which the Gazprom chain operates in Bulgaria, are also blocked, again due to sanctions. The plan now is to wait either for the sanctions to be lifted or for the license of the Serbian NIS, owner of "NIS Petrol", to be extended. For several years, Konstantinov has been developing gas stations under the Avia brand. Gazprom's facilities will be rebranded and will become Avia. This will also happen with the "Zara" gas stations. If events develop positively, and in particular the more complex deal for Gazprom's oil business, Avia will position itself as a major player in the wholesale market with two large warehouses - in Kostinbrod (near Sofia) and one in Stara Zagora. In retail trade, a chain with 44 sites will appear, and several sites for which there are plots of land are also in the process of appearing. The new deal is between "Uni Energy", with majority owner Ivaylo Konstantinov, and is for independent sites - gas stations and a petrol station, owned by "Zara - E", "Zara-Gaz", "Zara-Yug" and BT. The assets being sold are 8 gas stations and a ZARA petrol station, located in the city of Stara Zagora, 6 Industrialna Street. It is located on a plot of 60 acres and has a capacity of 18 thousand tons for all types of fuels and until the beginning of this year it also had a tax warehouse license. "Zara - E" was established in 1994. The company is family-owned. The oil past began in the 1970s, when the father Svetlozar Terziev worked in the then state supply association "Petrol". After 1975, he became director of "Petrol" - Stara Zagora. After 1989, all state directors were replaced and Svetlozar Terziev left "Petrol". In 1990, he started a private business in the fuel sector, which his son continued. The company is a regional leader in the trade in petroleum products, and although it has a few gas stations, it works mainly in the wholesale segment. It has two tax warehouses from 2006 and 2016 (the second one east of Stara Zagora is half the size of the main one and is not the subject of the deal) and about 50 vehicles. For 2024, Zara - E's revenues are 204.5 million leva. Uni Energy, which is in the process of expansion, has a majority owner Ivaylo Konstantinov, who in the past headed the bus company Union Ivkoni. In 2019, a major deal took place in the bus market and Union Ivkoni merged with some of its major competitors - Etap Address and Group Plus, with Konstantinov stating at the time that he would create a chain of gas stations. In May last year, a new partner joined Uni Energy - VIP Station (with 45%). The company is solely owned by Ranko Klacar and was established in September 2023. Ranko Klacar is a partner in several other companies with Radoslav Ivanov. Ivanov is currently the sole owner and manager of "Ipon 1", the security company founded in the early 90s by Boyko Borisov. The brand is Avia, and the development of the sites is based on a principle close to franchising. "Uni Energy" is a partner in "Avia Bulgaria", in which the Swiss Avia International and the third partner - "TTN Commerce" also participate. "Uni Energy" has 14 sites, as well as 5-6 terrains. The third partner has 2 more of its own plus 3-4 more partner ones. With the 22 gas stations of "NIS Petrol" and the 8 of "Zara - E", the account swells to 50 - 55. "Uni Energy" has existed for years. Currently, the company has a capital of 1 million leva. Its revenues for 2024 are 21.2 million leva, and the profit - 367 thousand leva. As of September this year, the company employs 99 people.

Bulgarian judges have rebelled against the introduction of a new antivirus agent into their computers and have expressed fears that its administration could violate all rules for the protection of personal data, as well as the independence of the court. An official letter from the Union of Judges (UJ) demands an "immediate halt to the introduction of the antivirus agent Trellix Endpoint Security Power Edition into the courts" by "Information Services" AD. The UJ claims that the judicial community and judicial organizations are completely isolated from the essentially administrative-command process of introducing the said software product. "The scarce information to which we have access shows that the responses of employees of the Supreme Judicial Council and Information Services AD to the serious objections of the system administrators suffer from a number of significant inconsistencies, ambiguities and contradictions," the union wrote. According to international standards (ISO 27001, ISO 27701, NIS2, ENISA, NIST CSF 2.0), the implementation of such critical technology must be justified, transparent, risk-based and subject to an independent audit. None of these principle requirements were met when implementing the agent, the SSB claims. The letter also states that centralized access of an external operator to the judicial infrastructure is allowed. "Information Services AD has 24/7 administrative access to the Trellix platform and logs, which represents a supply-chain risk that is not documented; not substantiated; not assessed with a risk analysis; contradicts the standards ISO 27001 (third-party risk) and NIS2 (Art. 21 for the supply chain)," the SSB wrote. The judges also claim that there is an unjustified concentration of administrative rights in "IO" AD. On this basis, the SSB insists that the SJC immediately suspend the implementation of Trellix, pending the submission of a data protection impact assessment (Art. 35 GDPR); an independent audit under ISO 27001 and NIS2; a legal analysis of the scope, including the role of IO AD.

The Bulgarian National Bank (BNB) has determined the level of the buffer for the risk exposures of six systemically important banks in Bulgaria. According to a decision of the BNB Governing Council of 27 October 2025, the central bank determines six other systemically important institutions (OSIIs), as well as the level of the buffer on an individual, consolidated or on an individual and consolidated basis, applicable to the total value of the risk exposures, effective from 1 January 2026. According to the BNB decision, the other systemically important institutions are UniCredit Bulbank (DSI buffer of 1 percent), United Bulgarian Bank (DSI buffer of 1 percent), DSK Bank (DSI buffer of 1 percent), Eurobank Bulgaria (DSI buffer of 1 percent), First Investment Bank (DSI buffer of 0.75 percent), Invest Capital, Central Cooperative Bank (DSI buffer of 0.50 percent).

"Doverie Bricolage" - the company that manages the Mr. Bricolage stores ("Monsieur Bricolage"), opened its largest and most modern store, located in the capital's XOPark on Botevgradsko Shose Blvd. The investment in the site is 40 million leva, and 110 employees will work there. The new Mr. Bricolage store is the 14th for the company in Bulgaria. It is located on 12 thousand sq m of area and offers over 50 thousand items. The space includes a 4,000 sq m "Garden" zone, a tinting center, a DeLuxe section for flooring, etc. In December 2023, the company opened Mr. Bricolage in Haskovo. The company also invested in photovoltaic systems located in Mr. Bricolage stores in Blagoevgrad, Ruse, Plovdiv, Burgas and Dobrich. In October 2024, "Doverie Bricolage" bought the building that houses Mr. Bricolage on Tsarigradsko Shose Blvd. in Sofia. The deal was finalized this month. The sale price of the property is 18 million euros. Doverie Brico's plans are to continue operating the site and, in the meantime, to detail the projects for a new store in the same location. Over the past 25 years, the chain has invested 174 million leva in the Bulgarian economy and has served 65.6 million customers. The Bulgarian company also operates an online store. It also carries out wholesale trade to Brico Macedonia, after selling its franchise rights for North Macedonia in May 2017. In February 2019, a new minority owner entered the Bulgarian company, as the main shareholder - Doverie Capital - sold 28% of the capital to Kresta Consulting (owned by long-time managers of the chain). Doverie Capital, part of Doverie United Holding, holds the remaining almost 72%. For 2024, Doverie Brico reports over BGN 194.5 million in sales revenue and BGN 5.462 million in profit.

The largest MREL bond issue in Bulgaria (EUR 60 million), issued by tbi bank, started trading today on the Bulgarian Stock Exchange (BSE). The issue consists of 3-year bonds (with a call option after two years), with an annual interest rate of 7.0%. The stock exchange code under which the issue will be traded is TBIF. This is the sixth bond issue of tbi bank to be traded on the BSE. Over the past four years, tbi bank has raised nearly EUR 150 million from the local public market, providing investors with attractive and flexible instruments in terms of maturity and yield.

Impulse Growth AD reported a profit of BGN 1.054 million from changes in the fair value of investments for the first nine months of 2025. According to preliminary data, at the end of the period, the total value of the company's assets amounted to BGN 12.189 million, of which BGN 12.085 million are financial assets reported at fair value through profit and loss, and BGN 102 thousand are cash. The company's investments in companies traded on the Bulgarian Stock Exchange are BGN 2.821 million. Impulse Growth owns shares in Wiser Technology, Bulgarian Stock Exchange-Sofia, Telematic Interactive Bulgaria, Smart Organic, Speedy, Shelly Group, Biodit, Boleron, Green Innovation. Most of the company's investments were made through three funds – Imventure I KDA, Imventure II KDA and Imventure III KDA. The valuation of their positions is, respectively, 528 thousand leva, 6.854 million leva and 1.882 million leva. After the nine-month period, the Imventure III KDA fund participated in a financing round of Daye Biotech Limited through a capital increase. The investment is for 500 thousand euros. Daye is a clinical platform for gynecological and menstrual health with offices in London (UK), Sofia and Denver (USA). The company develops sustainable and scientifically validated products and services that cover the entire spectrum of women's health, and has ISO-certified production in Bulgaria. Daye is funded by investors such as Hambro Perks, MassMutual Ventures, Khosla Ventures, Simplyhealth, Martin Varsavsky and Anne Wojcick with a total of over $20 million. Impulse Growth also has investments in A4E, Bioseek, Browseave, Delivers.AI, Discordia, Excitel Group, GlycanAge, United Retail Sites, Noesis, ReBeneFit, Transmetrics, Tiger Technology, SoCyber, Storied Data. The company recently wrote down its investment in German Tapline, which will sell its assets because it was unable to scale its solution for financing SaaS companies.

The Belgian financial institution Euroclear has sent a letter to EU institutions warning of the dangers of lending frozen Russian assets to Ukraine. According to Euroclear, such a step would be perceived as a seizure, which would lead to serious political and economic consequences. The letter adds that such an action would be contrary to the rule of law and would undermine the trust of international investors such as sovereign wealth funds and central banks. It warns that this could lead to central banks avoiding investing in Europe due to the vulnerability of such investments. It is possible that due to the loss of confidence in the markets, EU countries may experience difficulties in obtaining new loans from international markets and pay higher interest rates, Euroclear adds. The media notes that this is the clearest warning issued so far regarding the European Commission's proposal to lend 140 billion euros of the total 185 billion euros of the Russian Central Bank's assets frozen in Euroclear to Ukraine. The Commission proposes that Kiev return the funds after the war is over and Russia pays compensation for the damage caused. The EC yesterday expressed its readiness to propose a legal solution for the use of the Russian funds and the issue is expected to be discussed at the European Council meeting in December. According to the Commission, there are two other options for providing the necessary funds to Ukraine, but they would lead to the need for EU countries to borrow from international markets and pay the interest.

Silver has quietly outperformed gold in terms of yield for investors and may have more attractive long-term prospects given a structural supply shortage and growing demand from renewable energy technologies such as solar panels, columnist Clyde Russell wrote in a commentary for Reuters. The spot price of silver has been in a sustained uptrend since October 2023, rising 163% from $20.67 an ounce on October 3 of that year to a record high of $54.38 on November 13 of this year. Since then, the price has fallen more than 5% and closed at $51.33 an ounce on Wednesday. During the same period, spot gold prices rose 142% from $1,813.90 per troy ounce on October 3, 2023 to a record high of $4,381.21 on October 20, before falling 5% to close at $4,163.51 on Wednesday. Silver has a history of outperforming gold, rising 431% between October 2008 and its then-record high of $48.24 per troy ounce on April 27, 2011. Gold also rose during that period, reaching a record high of $1,920.30 per troy ounce on September 6, 2011, but its rise was more modest at 168%. Central bank purchases and strong investor interest in both exchange-traded funds and gold bars and coins have helped push gold prices higher. Silver has followed gold’s trend to some extent, but its lower value means that physical silver is more expensive to store, limiting its investment appeal to some extent. The more compelling argument for a rise in silver prices lies in growing industrial demand and limited capacity to increase production. According to LSEG, industrial demand has risen to 689.1 million troy ounces in 2024 from 644 million the previous year. Of this, 243.7 million troy ounces were used to manufacture solar panels, an increase from 191.8 million the previous year and a 158% increase from 94.4 million in 2020. Global solar capacity grew by about 600 gigawatts (GW) in 2024 and is expected to reach nearly 1,000 GW by 2030. The International Energy Agency expects that 4,000 GW of new solar capacity will be installed from 2024 to 2030. This suggests that solar alone will drive silver demand by nearly 150 million troy ounces per year by 2030, which would represent an additional 13% to the physical demand of 1.169 billion troy ounces in 2024. And while other sources of silver demand, such as jewelry, may be affected by higher prices, the market is likely to struggle to meet demand. The market deficit, calculated by LSEG, is 501.4 million troy ounces in 2024, a significant increase from 19.4 million in 2023. Most silver is produced as a by-product of mining other metals such as copper, lead, zinc and gold. This means that the increase in supply depends largely on the economics of the demand and supply of these metals, rather than on the fundamental outlook for silver. Silver supply could also be constrained by the expected closure of some mines by 2030. An article published in July on the industry website Mining Technology predicted that global silver production would fall to 901 million troy ounces by 2030 from an expected 944 million this year.