Банкеръ Weekly



First Investment Bank (FIB) will pay on April 24 the first interest to private persons and companies, which have purchased its mortgage bonds. Only those who bought the paper after April 19 shall not get money. FIB issued 2-year mortgage bonds with an aggregate par value of EUR5MN and a 7.8% annual interest. Each bond is of EUR1,000 par.Atanasios Petropoulos became Executive Director of Bulgarian Post Bank. He heads the Corporative Banking Department and was only a member of the Management Board until now. Mr. Petropoulos assumed officially the post after the court decision was published in Issue 39 of the Official Gazette, dated April 16.The BoD of the Bulgarian Stock Exchange granted a permanent member status to HVB Bulgaria. The financial institution's dealers Nikolai Simeonov and Bozhidar Kunov have been registered as investment underwriters.Bulgaria's foreign debt totalled USD9.728BN (69% of GDP) in end-February. It decreased by USD175.2MN within the first two months of 2002 when USD336.3MN was paid to foreign creditors, USD195.4MN of which for paying off principal, and USD140.9MN for interest payments.UBB offers as of mid-April euro coins in all of its offices. The bank has at its cash desks coins of all par values from 1 cent to 2 euros. Demand for euro coins will be increasing considerably, bank experts claim, because they are very suitable for payment of various taxes when travelling abroad - for telephones, parking lots, customs, and ferries.The International Bank for Reconstruction and Development (IBRD) has approved the release of the second tranche for the support of environment and privatisation (EPSAL), amounting to EUR14.840MN. The loan is granted to Bulgaria against fulfilled conditions and measures under the programme for elimination of past ecological damages and facilitated acceptance of EU's ecological requirements. The money will support the payment balance and the State undertakes to ensure funds to finance ecological programmes in several big enterprise. EUR19.5MN remaines to be recived from the entire credit, totalling EUR49.5MN.

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