FINANCE MINISTER VELCHEV PREDICTS INCREASE OF TRUST IN BANKS
The Bulgarian consumer, who withdrew from the bank sector after the crisis in 1996, is now gradually restoring its trust in financial institutions, Finance Minister Milen Velchev said during the opening of the Modern Bank forum on May 28. The event was attended by the Chairman of the Parliamentary Budget and Finance Commission Ivan Iskrov, the Director General of Hewlett-Packard Bulgaria Sasha Bezuhanova, and representatives of most of the largest local banks. The forum was organized with the assistance of the companies Hewlett-Packard and REI Holding, and of BULBANK.According to Mr. Iskrov, the modernization of the Bulgarian bank sector is one of the most important prerequisites for the attraction of new clients. Consumers are increasingly interested in the introduction of new services and less - in the equity capital of the financial institutions. The development of the Bulgarian bank system in Bulgaria is in its third stage. If real crediting of the national economy was most important in thе beginning, and the survival of banks themselves afterwards, modern forms of banking are the most important thing now in the third stage of stabilization, Mr. Iskrov said.