Банкеръ Weekly



Hungary's OTP Bank was named Investor of 2003 in Bulgaria after buying DSK Bank on October 1, 2003. OTP won the tender for Bulgaria's second biggest bank by offering EUR 311MN. At an official ceremony on April 14 the Finance Minister Milen Velchev handed the award to Laszlo Wolf, OTP Deputy Chief Executive. The event took place at the National Palace of Culture (NDK) in Sofia during a major investment forum. The Hungarian bank intends to invest another BGN600MN in DSK Bank's development over the next five years. The award for the biggest investment project launched in 2003 went to the Italian company Enel, which intends to invest EUR680MN in the Maritsa Iztok thermoelectric power plant. In the other two categories - for a greenfield investment and contribution to the development of high technologies in Bulgaria - the prizes went to the German company Hamberger and the firm SAP. Hamberger Bulgaria has built a plant for the production of plastic sanitary ware in the town of Sevlievo, investing BGN5MN in it. SAP is the top European producer of software.

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