News

Today, September 1, in the building of the Bulgarian Stock Exchange in Sofia, an official ceremony "Ring-The-Bell" took place, marking the listing of the Bulgarian bonds issuance of the International Bank for Economic Co-operation (IBEC). Denis Ivanov, Chairman of the IBEC Board, gave a start to the stock exchange session by symbolically ringing the stock exchange bell together with the Deputy Minister of Finance of Bulgaria and the head of the Bulgarian delegation to the IBEC Council, Monika Dimitrova-Beecher, and Deputy Chairman of the Board of Directors of the Bulgarian Stock Exchange Vasil Golemanski.

International Bank for Economic Co-operation has published its interim financial results for the 1st half of 2021 in accordance with the international reporting standards together with an auditor's report on review.

The International Bank for Economic Co-operation has summed up the preliminary results of its work in the first half of 2021. This is the first reporting period when the Bank operated in the paradigm of the new medium-term development strategy. The document, approved by the IBEC Council at the end of 2020, is based on the principle of "growth for stability", and already now the Bank's results indicate the correct approaches to its implementation. An important event was the upgrade of IBEC rating by Fitch to BBB (with a stable outlook) in March 2021 . This July, against the background of strengthening financial stability, the Bank's loan and documentary portfolio has grown by 20%, and for the first time has exceeded the figure of EUR 500 million, reaching EUR 519 million.

On June 28, 2021, the New Development Bank (NDB) and the International Bank for Economic Co-operation (IBEC) signed a Memorandum of Understanding to establish a framework for strategic, technical and operational cooperation in areas of mutual interest and promote the development of long-term relations between the two institutions. The Memorandum was signed by Mr. Marcos Troyjo, NDB President, Mr. Denis Ivanov, Chairman of the IBEC Board, and Ms. Thinh Thi Hong, Member of the IBEC Board.