United Bulgarian Bank (UBB) is one of the leading Bulgarian commercial banks. It is the first and largest banking consolidation project in Bulgaria, accomplished through the merger of 22 state-owned commercial banks throughout the country. UBB was established on 30 September 1992. The Bank manages assets, worth approximately BGN 6.6 billion and renders services to its clients via nearly 200 branches and banking structures throughout the country. The core business of UBB is being supported through the activity of its subsidiaries, UBB Asset Management, UBB Factoring and UBB Insurance Broker. History United Bulgarian Bank is the first large-scale project for banking consolidation in Bulgaria. It was founded on 30 September 1992 through the merger of 22 regional state-owned banks – Botevgradska Commercial Bank AD, Vrachanska Commercial Bank AD, Gabrovska Commercial Bank AD, Commercial Bank Doverie AD, Commercial Bank Elhovo AD, Commercial Bank Iskar AD, Kardzhaliyska Commercial Bank AD, Loveshka Commercial Bank AD, Mihaylovgradska Commercial Bank AD, Novozagorska Commercial Bank AD, Pazardzhishka Commercial Bank AD, Pernishka Commercial Bank AD, Peshterska Commercial Bank AD, Plevenska Commercial Bank AD, Popovska Commercial Bank AD, Rusenska Commercial Bank AD, Samokovska Commercial Bank AD, Slivenska Commercial Bank AD, Commercial Bank Stroybank AD, Targovishtka Commercial Bank AD, Haskovska Commercial Bank AD and Shumenska Commercial Bank. In 1997 UBB was acquired by a consortium of the European Bank for Reconstruction and Development (EBRD), BULBANK and Oppenheimer financial company, thus becoming the first privatised state-owned bank in Bulgaria. On 20 July 2000, BULBANK AD, CIBC World Markets (former Oppenheimer Corp.), Jodrell Enterprises and the European Bank for Reconstruction and Development sold to the National Bank of Greece (NBG) a total of 68 289 905 shares, a deal that rendered the NBG majority shareholder of UBB with 89,9% share participation, while the European Bank for Reconstruction and Development retained a 10% share. In turn, in 2002 the European Bank for Reconstruction and Development sold to the National Bank of Greece its 10% share, retained by that moment, thus rendering the National Bank of Greece majority shareholder with a share of 99.9%. The new owner preserved the Bank’s name and activity, while continuing its development as a universal market player. In December 2016 KBC Group announced the purchase of United Bulgarian Bank and Interlease for 610 Million Euros. This would effectively make KBC the largest bank-insurance group in the country. The CIBANK banks would be renamed United Bulgarian Bank. Banking Licence